May 19, 2024

ATCO Inks Lease Extension at Manhattan Office Tower – What is a Ground Lease?

By Nov17,2022
ATCO Inks Lease Extension at Manhattan Office Tower – What is a Ground Lease?, Robert Khodadadian

630 Third Ave. Image courtesy of ATCO Properties

ATCO Properties & Management has expanded Permanent Mission of the Republic of Slovenia to the United Stateslease at its 630 Third Ave. property in Manhattan, N.Y. Newmark worked on behalf of the landlord.

The tenant will double its presence at the 23-story, 252,000-square-foot Midtown tower from January 2023. The organization currently occupies 5,829 square feet on the entire 20th floor of the mid-rise. The new commitment further expands the consulate’s footprint to the full 22nd floor. Other tenants at the property include the Consulate General of Uzbekistan, Leader & Berkon and Kraft Kennedy.

The building is LEED Silver certified, features first-floor retail space and has five passenger elevators, according to CommercialEdge. Following a capital improvement program, amenities at the property now include terraces situated on two floors, new windows, improved mechanical systems and an open lobby.

630 Third Ave. is situated between East 40th and East 41st streets, close to Grand Central Terminal, Bryant Park and the Empire State Building. The property is 1.3 miles from the United Nations Headquarters and 2.6 miles from Lower Manhattan

Newmark’s team included Associate Director Brittany Silver and Managing Director Jonathan Franzel. Last month, Newmark was also involved in another Midtown Manhattan lease signing. An independent K-12 school committed to 63,000 square feet at a Class A office building in the Financial District.

The post ATCO Inks Lease Extension at Manhattan Office Tower appeared first on Commercial Property Executive.

 Brokerage, New York, News, Northeast, Office, ATCO Properties, Capital improvement, Newmark 

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