The Real Deal New York

Canada leases 77K sf at RXR’s 237 Park, eh

Consulate and UN embassy to consolidate offices
September 20, 2016 09:00AM

237 Park Avenue (credit: RXR Realty)

Jot down this address for Nov. 9: 237 Park Avenue. The Canadian Consulate and permanent mission to the United Nations signed a 77,000-square-foot lease at RXR Realty’s office building, consolidating its two Manhattan offices.

The northern neighbor’s U.N. embassy is currently based at Ruben Companies’ 885 Second Avenue while the consulate is at Mitsui Fudosan’s 1251 Sixth Avenue under a leases expiring in 2017, according to Commercial Observer, citing CoStar data. It’s unclear if the country will apologize for leaving.

The sovereign nation signed a 15-year lease with an asking rent in the low $80s at 237 Park, Commercial Observer reported. RXR’s TRData LogoTINY William Elder and Lauren Ferrentino represented the landlord, while Savills Studley’s David Goldstein and Greg Taubin represented the tenant.

Tenants in the 1.2 million-square-foot building include J.P. Morgan Chase, asset manager Jennison Associates, the New York Presbyterian hospital and advertising agency J. Walter Thompson. RXR bought the building for $800 million in 2013 from Lehman Brothers Holdings. [CO]Konrad Putzier