885 Third Avenue | TRD Research
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885 Third Avenue

885 Third Avenue
New York, NY 10022
Office, Leasing/Rental
  • Address 885 Third Avenue
  • neighborhood Midtown East
  • borough Manhattan
  • owner Ceruzzi Holdings
  • owner entity 885 THIRD OWNER LLC
  • floors 34
  • Year Built 1986
  • commercial units 1
  • total units 1
  • square feet 554,180
  • block and lot 1-01327-0001
  • BIN 1038549
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Sutton Place
  • Borough Manhattan
  • Square feet 13,500
notes
The law firm inked a 6-year lease.
  • Event Financing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Price $ 272,000,000
  • Publication Date 05/01/2017
  • Event Date 04/06/2017
  • Party 1 Ceruzzi Properties
  • Party 2 Column Financial
notes
The entity secured a refinance loan of $272 million.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 13,854
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Alden Global Capital
  • Party 2 Brokerage CBRE
  • Party 2 Broker Brad Needleman, Evan Fiddle
notes
The financial services firm renewed its lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 3,065
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Rtp Ventures
  • Party 2 Brokerage JLL
  • Party 2 Broker Randy Abend, Kurtis Gibbs
notes
The venture capital firm renewed its lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 4,359
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Noerr
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Douglas Dolgoff
notes
The European law firm renewed its lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 4,359
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 GWFF
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Douglas Dolgoff
notes
The German company, which specializes in television and film royalties, has signed a lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 3,826
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Gaslog
  • Party 2 Brokerage JLL
  • Party 2 Broker Dan Turkewitz
notes
The owner,operator, and manager of liquefied natural gas signed a lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 12,870
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Multi Packaging Solutions
  • Party 2 Brokerage CBRE
  • Party 2 Broker Chris Hogan, Michael Movshovich
notes
The specialty print packaging manufacturer signed a lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 3,148
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Ceruzzi Holdings
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Colchestor Global Investors
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Carri Lyon
notes
The global bond manager signed a lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 12,870
  • Publication Date 09/01/2016
  • Event Date 07/15/2016
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Erik Harris, Scott Klau
  • Party 2 Multi Packaging Solutions
  • Party 2 Brokerage CBRE
  • Party 2 Broker Chris Hogan, Michael Movshovich
notes
The packaging company signed an 11-year lease for the entire 28th floor.
  • Event Sales
  • Address 885 Third Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 554,180
  • Price $ 453,000,000
  • Price per foot $ 817.42
  • Publication Date 03/01/2016
  • Event Date 01/01/2016
notes
The 34-story office building sold for $453 million.
  • Event Retail Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 2,500
  • Publication Date 08/01/2014
  • Event Date 06/22/2014
  • Party 1 IRSA; Marciano Investment Group
  • Party 1 Brokerage Newmark Grubb Knight Frank, Herald Square Properties
  • Party 1 Broker Jeffrey Roseman, Gerard Nocera
  • Party 2 Crimson & Rye
notes
The restaurant signed a lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 13,854
  • Price per foot $ 85.00
  • Publication Date 08/01/2013
  • Event Date 06/22/2013
  • Party 1 IRSA, Marciano Investment Group
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Mark Weiss, Erik Harris
  • Party 2 CorpBanca
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Dan Gronich, Larry Zuckerman
notes
The Chile-based bank signed a 15-year lease on the 33rd floor, the New York Observer reported.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 19,270
  • Publication Date 12/01/2012
  • Event Date 10/22/2012
  • Party 1 IRSA
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau, Erik Harris
  • Party 2 Goulston & Storrs
  • Party 2 Brokerage CBRE
  • Party 2 Broker Stuart Eisenkraft
notes
The law firm signed a lease to relocate to the entire 18th floor from 750 Third Avenue, the New York Observer reported.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 1,930
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Metropolitan 885 Third Avenue Leasehold
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau
  • Party 2 Galileo Investment Management
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Michael Mandel
notes
The financial services firm signed a five-year lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 1,923
  • Publication Date 11/01/2011
  • Event Date 09/22/2011
  • Party 2 Paladin Strategici Partners
  • Party 2 Brokerage Coldwell Banker Commercial Hunter Realty
  • Party 2 Broker Michael Okun
notes
The investment management firm signed a lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 13,900
  • Price per foot $ 75.00
notes
The investment firm renewed its lease for the building's penthouse space for seven years. The company has occupied the space since 1996.
  • Event Retail Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 5,000
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 Metropolitan Real Estate Investors
  • Party 2 Wolfgang's Steakhouse
notes
The steakhouse signed a 15-year lease to take over the space formerly occupied by Vong. This will be its third Manhattan location.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 3,205
  • Publication Date 10/01/2009
  • Event Date 08/22/2009
  • Party 1 Brokerage Brack Capital
  • Party 1 Broker Kevin Richards
  • Party 2 Kurron Shares of America
  • Party 2 Brokerage Hunter Realty
  • Party 2 Broker Michael Okun
notes
The healthcare consulting company signed a lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 1,930
  • Publication Date 03/01/2008
  • Event Date 01/21/2008
  • Party 1 Brager, Wexler and Eagel PC
  • Party 1 Brokerage CBRE
  • Party 2 Galileo Investment Management
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Michael Mandel, Michael Gottlieb, Sinclair Lindenfeld
notes
The investment management firm inked a five-year lease.
  • Event Office Leasing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 70,000
  • Publication Date 01/01/2008
  • Event Date 11/22/2007
  • Party 1 Metropolitan Real Estate Investors
  • Party 1 Brokerage CBRE
  • Party 1 Broker Brian Gell, Laurence Briody
  • Party 2 Latham & Watkins
  • Party 2 Brokerage CBRE
  • Party 2 Broker Scott Gamber
notes
The law firm signed an expansion lease for floors 14 through 16 and 20. The attorneys currently occupy floors three through 13, 21 through 33 and a portion of 25. The firm's total occupancy in the building is now 400,000 square feet.
  • Event Sales
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 587,000
  • Price $ 317,000,000
  • Price per foot $ 540.03
notes
The partnership acquired a 79 percent fee interest and a 21 percent leasehold interest in the property for $317 million. Gramercy and SL Green also entered into a 70-year leasehold/sub-leasehold arrangement. Gramercy owns 45 percent of the investment in the property, and SL Green owns the remaining 55 percent.
  • Event Financing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 587,000
notes
A $267.7 million, 10-year fixed rate loan was provided for the acquisition of the office property. The partners inked an agreement to acquire a 79 percent fee interest and 21 percent leasehold interest in the 34-story Class A office property for $317 million (see deal above). 34-story office building.
  • Event Financing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 587,000
  • Price $ 210,000,000
  • Publication Date 09/01/2007
  • Event Date 07/23/2007
  • Party 1 Metropolitan Real Estate Investors
  • Party 1 Brokerage The Carlton Group
notes
A $587 million financing was arranged for the acquisition of the office property. This was made possible by the sale of the building's fee simple interest to a REIT for $317 million and the arrangement of a 10-year fixed-rate leasehold mortgage for $210 million. 34-story office building.
  • Event Sales
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 587,000
  • Price $ 648,500,000
  • Price per foot $ 1,104.77
  • Publication Date 08/01/2007
  • Event Date 06/22/2007
  • Party 2 Tao Tsuot, Financial Levers
notes
The building sold for $648.5 million to a group led by the two Israeli investment companies, who will own 70 percent of the property. Investors including the Marciano Investment Group and Metropolitan Real Estate Investments will own the rest.
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