November 4, 2024 9:00 AM
Newmark announces the firm has secured over 120,000 square feet of office leasing at The Olnick Organization’s 130 Fifth Avenue in the Flatiron District. The successful leasing campaign was led by Newmark President of Tri-State David A. Falk, Executive Managing Director Eric Cagner and Associates Leo Koné and Claire Koeppel, whose work on behalf of ownership has now brought the asset to 100% leased.
The diverse tenant roster at 130 Fifth Avenue includes major names across finance, technology, and lifestyle, each drawn by the building’s combination of high-quality, built installations and its prestigious location. The Olnick Organization worked closely with Newmark to offer updated, built spaces that appeal to today’s tenant needs, enhancing the building’s reputation as one of Flatiron’s premier office properties.
“We are witnessing a resurgence of demand for quality office space in Midtown South,” said Cagner. “We felt that there was a reusability with our existing installations where a moderate level of updating rather than starting from scratch would correlate to strong interest. 130 Fifth’s strategic location, paired with an excellent built environment, ultimately attracted an impressive diversity of tenants to the building. The leasing campaign concludes with nine floors signed over ten months to an incredible roster of noteworthy companies; we could not be happier for our client, the Olnick Organization, and the outlook for the building moving into 2025.”
Notable leasing highlights in 2024 include:
- Airbnb secured 13,300 SF on the third floor, as represented by Sacha Zarba, Lauren Crowley, Connor Krup and Ariel Ball of CBRE.
- Fresh, a division of LVMH, extended its lease on two tower floors (26,600 SF), as represented by Rob Hill of CBRE.
- VidMob leased the entire fifth floor (13,300 SF), represented by David Mainthow, Brian Hay and Tim Hay of Cushman & Wakefield.
- Farmacy Beauty, a division of Procter & Gamble, leased the entire fourth floor (13,300 SF), represented by JLL.
- Institutional Finance Tenant finalized a lease spanning floors 6-9 (53,000 SF), represented by Cushman & Wakefield.
Seth Schochet, CEO of the Olnick Organization, said, “This is a true testament to having a high-quality building in a great location. We couldn’t be prouder of the quick success that Newmark delivered to the building. We are excited to welcome all our new tenants to the building and announce that we will be commencing a capital improvement plan for the lobby with an upgrade slated to commence in the 1st quarter of 2025.”
130 Fifth Avenue is a 141,346 square foot, Class A office building located at the corner of Fifth Avenue and 18th Street in New York City and commonly known as one of the Flatiron District’s premiere office properties. Among 130 Fifth Avenue’s many amenities is an elegant, marble-filled lobby with concierge service and 24/7 access. The building offers full-floor tenant spaces with an efficient, side-core design and state-of-the-art elevator service, expansive windows, high ceilings, and efficient side-core floorplates. With the Flatiron District’s robust access to public transportation, dining, and retail, 130 Fifth Avenue remains one of the most coveted locations for companies seeking a premium office environment.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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