Newly renovated and amenitized building is propelling tenants’ growth
Global Holdings Management Group has completed four transactions for a total of 41,767 square feet of office space at 410 Park Ave., a 22-story boutique property located within the Plaza District of Manhattan.
Rapidly growing Glendower Capital, a $10 billion private equity firm, will nearly double its space at the building under a 10-year lease. The company will expand to 14,278 square feet across the entire 10th floor of the newly upgraded property.
China CITIC Bank, China’s seventh-largest lender, is expanding to 14,278 square feet across the entire 11th floor of the property under a 10-year renewal and expansion; global merchant bank Incentrum Group signed a 10-year renewal and expansion to occupy 9,071 square feet across the entire 18th floor; and JFI Family Office signed a three-year renewal for its 4,140 square feet office space on the 6th floor.
Global Holdings Management Group recently completed a series of best-in-class upgrades at 410 Park Avenue. Tenants have exclusive use of a private lounge for events or meetings as well as a town hall-style conference room, a SkyTrak SIG10 Golf Simulator offering 35 professional courses and practice courses where tenants and their guests can recharge between meetings or host team-building events, and a state-of-the-art fitness center featuring Peloton bikes, a meditation station, and training equipment to support health and wellbeing.
Situated on the corner of East 55th Street and Park Avenue, the 250,000 square foot property’s ground floor is home to the Ferrari of New York showroom.
“As the pandemic continues to impact the evolution of the office environment, Global Holdings Management Group has prioritized tenant satisfaction with powerful amenities that support firm culture, as well as recruitment and retention,” said JLL vice chairman Paul Glickman, who oversees the leasing of 410 Park Avenue. “In the last 18 months, we have completed over 95,000 square feet of transactions at 410 Park – a true testament to Global Holdings’ commitment to the property and its tenants.”
Craig Panzirer, senior vice president and director of leasing, Global Holdings Management Group, said: “Recent leasing momentum in the property demonstrates the continued desirability of superior Class A office space. We are delighted to accommodate our current tenants’ evolving space needs and look forward to welcoming more businesses to 410 Park through our high-end prebuild program and market-leading amenities.”
JLL is the exclusive Agent of 410 Park Avenue. In addition to Glickman, the professionals overseeing the leasing assignment are Benjamin Bass, executive managing director; Diana Biasotti, senior vice president; Kristen Morgan, vice president, and Harrison Potter, associate. Glendower Capital was represented by Gregg Cohen, a principal at Cresa. China CITIC Bank was represented by Clyde Reetz, executive vice president with CBRE. Incentrum was represented by David Mainthow, managing director, Troy Elias, senior associate, and Nick Masi, senior associate, from Cushman & Wakefield. JFI Family Office was represented by JLL’s Bass.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Global Holdings Management Group
Global Holdings Management Group exclusively develops, advises and manages the real estate assets of Eyal Ofer’s Global Holdings Group, a private real estate holding conglomerate that specializes – directly and with strategic partners – in large scale iconic office buildings, hotels and luxury residential developments, as well as investment and development assets in prime locations across North America, the United Kingdom and Europe. Global’s current portfolio consists of over 10 million square feet of real estate, comprising over 100 properties and 2,500 hotel rooms. Global’s New York City properties include Class A office buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue and Nomad Tower (1250 Broadway), 875 Third Avenue, and iconic residential developments such as 15 Central Park West, the Greenwich Lane, 520 Park Avenue, 18 Gramercy Park and 50 United Nations Plaza. For further information, visit www.globalholdings-mgmt.com.
