Broker-dealer inks 22K sf lease at SL Green’s 521 Fifth Avenue

Asking rent was $70 per sf

New York /
Oct.October 04, 2016 09:13 AM

Broker-dealer KGS-Alpha Capital Markets is taking more than 20,000 square feet in SL Green Realty’s 521 Fifth Avenue.

The company inked a lease for 22,368 square feet at the 503-foot-tall office tower, formerly known as the Lefcourt Colonial Building. The asking rent was $70 per square foot, the New York Post reported. KGS is moving from its current location at Boston Properties’ 601 Lexington Avenue, where it reportedly subleases about 30,000 square feet.

Cushman & Wakefield’s Tara Stacom, Justin Royce, Matthias Li and Barry Zeller represented SL Green. KGS was represented by Savills Studley’s Jeffrey Peck, Daniel Horowitz and Chris Foerch.

SL Green bought the building in 2006 as part of a joint venture, but took complete control of the property in 2011. In 2012, the real estate investment trust sold a 49.5 percent equity interest at the tower to Plaza Global Real Estate Partners for $72 million. Other tenants in the 409,000-square-foot building include RKF, CFC Capital and Equinox Fitness.  [NYP] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green CEO Marc Holliday (Getty, SL Green)
“The ink on the leases” shows tenants still want office space: SL Green CEO
“The ink on the leases” shows tenants still want office space: SL Green CEO
SL Green CEO Marc Holliday and One Vanderbilt (Getty)
SL Green asking record $322 psf at One Vanderbilt
SL Green asking record $322 psf at One Vanderbilt
SL Green CEO Marc Holliday with 461 Fifth Avenue and 220 East 197th Street in Fordham (SL Green, Google Maps)
SL Green pays $28M for full control of Midtown office building
SL Green pays $28M for full control of Midtown office building
Employees revolt against return-to-office edicts
Employees revolt against return-to-office edicts
Employees revolt against return-to-office edicts
One Vanderbilt and Marc Holliday (SL Green, HeartlessMind/Wikimedia)
SL Green closes on $3B One Vanderbilt refi
SL Green closes on $3B One Vanderbilt refi
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...