Florida-based Piquet Realty, which acquired the Portman Group’s brokerage arm Portman Realty earlier this month, has inked a lease for a new New York City locale in the Coates Building.
The 1,000-square-foot spread at 555 Madison Avenue at East 56th Street will accommodate roughly 100 agents, according to a release from Piquet. A spokesperson for the firm did not specify which floor of the 33-story building will house the firm, but noted that the lease comes with an option to expand up to 10,000 square feet.
“This building, in a prime Manhattan location, gives us the base for our planned expansion in the New York market,” Cristiano Piquet, president of Piquet Realty, said in the release. The firm’s other Manhattan location is in Hudson Square at 160 Varick Street, according to Piquet’s website.
Piquet, which has ties to the Brazilian investor community, also picked up Portman Realty Management in the recent acquisition — a unit that manages over 1 million square feet in New York. — Julie Strickland