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New York

Kaufman, Travelers sign Japanese insurer at 777 Third Avenue

777 Third Avenue
777 Third Avenue

A Japanese insurance company has inked a deal for over 13,000 square feet in 777 Third Avenue tower, owned by the William Kaufman Organization and the Travelers Companies.

Sompo Japanese Insurance will take the 39-story building’s entire 24th floor, relocating from a smaller space on part of the 28th floor. Kunihiko Otomo of Studley Real Estate represented the tenant, while Frank Doyle, Cynthia Wasserberger, Alexis Tener Petrus, Jonathan Schifirin and David Wassel of Jones Lang LaSalle worked with Sage Realty’s Michael Lenchner on behalf of the landlords.

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While the agreed-upon rent was not specified, rates in the area are around $70 per square foot, Doyle told the New York Observer.

Law firm Morelli Alters Ratner also recently inked a deal in the 576,000-square-foot building, as did biopharmaceutical company Retrophin and investment firm Lascaux Resource Capital, according to the Observer. [NYO] — Julie Strickland