The Real Deal New York

Venture capital firm inks 14,000 sf lease at 230 Park Avenue

Apple Tree Sciences moving from Princeton, N.J. to open first New York office

June 11, 2014 02:30PM

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230 Park Avenue (Helmsley Building) ($80 million)  Landlord: Invesco Real Estate, Monday Properties Tenant: ING Real Estate  Area: Midtown  Type: Renewal/expansion Square Feet: 144,000 Term: 11 years Rent: Low $50s Landlord Rep: Monday Properties (Jordan Berger) and Jones Lang Lasalle (Frank Doyle) Tenant Rep: Newmark Grubb Knight Frank (Moshe Sukenik, Neil Goldmacher) and Cassidy Turley (Steve Ernst)

230 Park Avenue

UPDATED, 4:05 p.m., June 11: Venture capital firm Apple Tree Life Sciences has signed on for 14,169 square feet at 230 Park Avenue for the coming ten years.

Monday Properties and Invesco, which own the building, announced the deal today. Apple Tree Life Sciences, which invests in pharmaceuticals, biotech, medtech and health care services, is relocating from Princeton, N.J. to open its first office in New York City. Asking rent for the space was in the low $80s.

Apple Tree Life Sciences was represented by Ethan Silverstein of Cushman & Wakefield. Monday Properties was represented in-house by Jordan Berger, along with  JLL’s Paul Glickman, Frank Doyle, Jonathan Fanuzzi, David Kleiner and Matthew Polhemus.

The space will be built out by Monday Properties and designed by Gensler.

The lease follows an announcement in February that UrbanSpace will occupy 10,000 square feet at 230 Park Avenue[NYO] – Claire Moses

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