The Real Deal New York

The Yard coming to HH Realty’s 246 Fifth Avenue

Coworking space provider signs 15-year lease for 33K sf
June 01, 2015 01:55PM

Coworking space provider the Yard inked a lease to take 33,000 square feet at HH Realty Equities’ 246 Fifth Avenue.

The new office will be located between 27th and 28th streets, one block away from another location of the Yard, at 234 Fifth Avenue, the New York Observer reported. The deal is for 15 years. Asking rents were in the $50s per square foot.

The Yard already has locations in Lincoln Square, the Lower East Side, and Williamsburg, and plans to open in the Financial District by the end of this year. In September, it signed a 23,000-square-foot lease at 885 Sixth Avenue in Midtown.

Savills Studley’s Evan Margolin and Lance Leighton represented the Yard. HH Realty was represented by one of its principals, Ariel Akkad, in-house. [NYO] — Tess Hofmann