Fisher Brothers signs five leases at 605 Third Avenue totaling 65,000 s/f
Manhattan, NY 605 Third Ave. is capitalizing on rising demand and rental-rate growth along the Third Ave. corridor. Since April, Fisher Brothers, the fourth-generation real estate company that owns, manages and operates unique spaces across the country, has completed five leases in the building totaling almost 65,000 s/f, with asking rents reaching up to $120 per s/f.
The transactions include a 10-year, 19,900 s/f renewal by law firm Hodgson Russ LLP on the 23rd floor; a 10-year, 19,900 s/f new lease by energy and commodities market specialist Karbone on the 32nd floor; a 5-year, 16,900 s/f renewal and expansion by private equity firm Coalesce Capital on the 36th floor; a 10-year, 6,400 s/f expansion by investment firm Lionheart Strategic Management on the 16th floor; and a 10-year, 1,800 s/f renewal by Starbucks on the ground floor.
Clark Briffel, managing director of leasing at Fisher Brothers, represented ownership in each of the transactions. Hodgson Russ LLP was represented by Brian Cohen and Kyle Ciminelli of Newmark; Karbone was represented by Stephen Gordon of Newmark; Starbucks was represented by David Firestein of TSCG; and Lionheart and Coalesce Capital were self-represented.
“Signing five leases in the last three months demonstrates the continued strength of the Third Ave. corridor and the sustained demand we’re seeing from both new and existing tenants for high-quality office space,” said Ken Fisher, partner at Fisher Brothers. “From established law firms and growing financial services firms to a longstanding retail partner, these transactions reinforce 605 Third Ave.’s position as a premier Grand Central workplace destination.”
The leasing activity reflects strong momentum across multiple sectors, with tenants choosing 605 Third Ave. for long-term commitments through renewals, expansions and relocations. Karbone’s move from nearby 675 Third Ave. marks a notable addition to the building’s growing roster of financial services firms and Lionheart and Coalesce Capital expanded their footprints to accommodate continued business growth.
605 Third Ave. continues to attract tenants through Fisher Brothers’ ongoing investment in the property, including modern tenant amenities, upgraded common areas, a highly accessible Grand Central location and hospitality-driven services through Ease Hospitality. The building is also home to @Ease 605, a more than 15,000 s/f amenity center and events space on the seventh floor.
Building on that momentum, Fisher Brothers has engaged Studios Architecture to further elevate 605 Third Ave., with a reimagined lobby and enhancements to the building’s seventh-floor amenity package.
Fisher Brothers has also engaged CBRE as exclusive leasing agent for the building, which is currently marketing a 130,000 s/f block on floors 4-6, available immediately.
“CBRE is excited to expand our relationship with the Fisher Brothers team and represent them at 605 Third Ave.,” said Ben Joseph, senior vice president at CBRE. “Fisher Brothers is a market-leading operator with a firm commitment to providing a Class-A tenant experience. Given its immediate proximity to Grand Central, efficient floor plates, and a reimagined amenity package, we believe 605 Third Ave. is well positioned to quickly re-establish itself as a best-in-class asset on Third Ave.” The CBRE team is comprised of Howard Fiddle, Peter Turchin, Ben Joseph, Brett Shannon, Max Tarter, Zachary Price and Natalie Chung.