The Real Deal New York

Pedal to the metal: Commodities firm inks lease deal at 299 Park Avenue

Plaza District tower is 85% leased
March 06, 2018 09:15AM

299 Park Avenue

A commercial metals trading company has inked a deal for nearly 30,000 square feet of space at Fisher Brothers’ 299 Park Avenue.

Traxys Group, a Luxembourg-based commodity trader-merchant in metals and natural resources, agreed to take just under 30,000 square feet at the Plaza District office tower, the New York Post reported. The company, which is currently leasing at the Durst Organization’s 825 Third Avenue, plans to move next year.

Traxys was represented by a team from CBRE team. Newmark Knight Frank and an in-house team from Fisher Brothers represented the landlord.

The deal means the Park Avenue tower is 85 percent leased. Last month, The Real Deal reported that King Street Capital Management signed a 10-year lease for roughly 60,000 square feet at the 42-story tower. Asking rents in the building average north of $100 per square foot. The building is expected to undergo a major overhaul this year. [NYP] — Kathryn Brenzel