Century Management ditches 7 Penn for 440 Ninth

May 13, 2013 03:00PM

Residential property manager Century Management Services has inked a deal for 11,373 square feet at 440 Ninth Avenue at West 35th Street, the New York Observer reported. The lease is for part of the 412,000-square-foot building’s 15th floor, where asking rents tick in at $45 per square foot.

Century, currently at 7 Penn Plaza, plans to occupy the space by June after a build out by landlord Paramount Group is completed.

“The tenant was looking for a strong landlord, one that had a reputation of working with their tenants in a partnership,” Centric Real Estate Advisors principal Gregg Lorberbaum, who along with Samantha Fishbone represented the tenant, told the Observer.

The proximity to Hudson Yards was also a selling point for Century, the Observer said.

Paramount was represented by Stephen Schofel, Elizabeth Houley, Josh Gosin and Daniel Hassett of Newmark Grubb Knight Frank. [NYO]Zachary Kussin