News:
Brokerage
Posted: March 24, 2020
RXR Realty leases 73,000 s/f to INTL FCStone at 230 Park Ave.; JLL acts for tenant
Manhattan, NY RXR Realty, an owner, operator, and developer, completed a long-term lease with financial services company, INTL FCStone Inc. at 230 Park Ave.
Jordan Berger represented RXR in-house in the lease, along with a Newmark Knight Frank brokerage team led by Brian Waterman, Scott Klau, Erik Harris, Zachary Weil and Cole Gendels. Matthew Felice, David Miller and Gilbert Ohls of JLL represented INTL FCStone.
INTL FCStone, a diversified global brokerage and financial services firm, will occupy 73,000 s/f on the entire 10th floor in the 34-story office tower. The company will relocate and consolidate into their new office location from 155 East 44th St. and 530 Fifth Ave.
“We’re excited to welcome a tenant of INTL FCStone’s caliber to 230 Park Ave.,” said William Elder, EVP, managing director of RXR Realty’s NYC Division. “Attracting this highly respected Fortune 500 company is testament to the significant capital improvements we have made to the infrastructure and enhancements to the amenities in the building, along with an unparalleled Grand Central location."
230 Park Ave. is a 1.4 million s/foffice tower located on 45th and 46th Sts. The building underwent a $100 million capital improvement program that included the installation of a new HVAC system, electrical infrastructure, fiber backbone for faster fiber speeds, security system with mobile phone technology, upgraded pedestrian walkways, tenant amenity space on the 5th floor with conferencing, lounge and outdoor terrace, and the repositioning of the retail space on 46th St. and Vanderbilt Ave. 230 Park Ave. is close to major transportation hubs in Grand Central terminal and is near restaurants and hotels.
Tags:
Brokerage
MORE FROM Brokerage
Reynolds, Davila and Loch of Investment Property Realty Group close $3.735 million sale of 216, 218, 220 East 179th St.
Bronx, NY Investment Property Realty Group (IPRG) closed the sale of 216, 218, 220 East 179th St., a development site located in the Mount Hope section of the city, for $3.735 million.
 (2).gif)
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi
Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron
When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
.gif)
August Promotion
