Advent International leases 34,000 s/f office at RFR’s Seagram Building
Manhattan, NY Private equity firm Advent International has leased 34,000 s/f of office space at RFR’s Seagram Building. Seagram continues to attract and retain tenants with certain spaces pre-leasing even before they become available. In 2023, Seagram saw over 100,000 s/f of new and expanded leases including 19,000 s/f of deals across three leases finalized this past December.
“The flight to quality is clear as demand for space at Seagram and along Park Ave. remains strong,” said AJ Camhi, executive vice president, director of leasing at RFR Realty. “As asking rents reach new highs, Seagram continues to be an international icon and defines the bar for success in the office sector.”
Advent International signed a 10-year lease for the entire 14th and 15th floors and was represented by Lindsay Ornstein, Patrick Robinson, Casey Noel and Kate Whitman of OPEN Impact Real Estate. Asking rents at Seagram are $235 per s/f. Camhi and Paul Milunec, senior vice president of leasing for RFR Realty represented RFR internally on this transaction.
Camhi and Milunec also represented RFR internally on the following transactions, which closed out leasing in 2023:
• Fintech Advisory, investment firm inked a renewal of its lease for 10,000 s/f of space at Seagram. Eric Deutsch and Jared Freede of CBRE represented the tenant.
• Brant Point Capital Management, investment firm and a tenant at 375 Park Ave. since 2004, committed to a renewal of its 6,000 s/f space at Seagram. William Iacovelli of CBRE represented the tenant.
• Spanish law firm Perez-Llorca relocated and expanded its space to 3,000 s/f at Seagram. Robert Lowe and Evan Algier of Cushman & Wakefield represented the tenant.
“Through our active collaboration with RFR, OPEN was able to structure an off-market transaction for Advent enabling them to accommodate its growth in the ideal location at one of the most iconic buildings in NYC,” said Ornstein, co-founder of OPEN.