Peter Pennoyer Architects is bursting at the seams in its office at 432 Park Avenue, and is planning to relocate to a space double the size at 136 Madison Avenue in NoMad. The firm inked a 10-year lease deal for the entire 11th floor.
The transition from 9,000 square feet to 18,500 comes due to rapid growth at the firm, according to a release. “Enjoying increasing success, the team at Peter Pennoyer Architects was confronted with a classic ‘good problem’: they had outgrown their existing quarters, but their lease kept them tethered there,” said David Rosenbloom, executive director at Cushman & Wakefield, who represented the firm along with Emily Weber.
Peter Pennoyer still had nine years left on its lease at 432 Park Avenue, for which Cushman & Wakefield found a subtenant.
136 Madison Avenue features a 16-foot-high Art Deco entrance and three multi-tiered chandeliers in the lobby, and was found to meet Peter Pennoyer’s requirement of being housed in an architecturally significant building. Syracuse University occupies the second floor.
Andrew Roos and Michael Cohen of Colliers International represented the Cohen, Roos and Carmel families, who own 136 Madison Avenue, on the new lease. — Tess Hofmann