ATCO Properties & Management announced today the successful completion of three leasing transactions totaling 6,087 square feet at 381 Park Avenue South, a premier office tower in the heart of Manhattan’s Midtown South district.
Continental Realty Corporation, a full-service commercial real estate and investment company, signed a new, 1,191-square-foot office lease on the 9th floor of the building. Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers represented building ownership in the transaction while Jacob Wolkenfeld of Norman Bobrow & Co. represented Continental Realty Corporation.
ATCO has also secured a lease renewal with Maria B. Campbell Associates, Inc. for 2,957 square feet on the 13th floor. Founded in 1987, Maria B. Campbell Associates, Inc. is a literary scouting company that advises clients on book translation, publication and adaptation into television and film. Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers represented building ownership in the transaction and Hannah Gerard of CBRE represented Maria B. Campbell Associates.
Industrial Development Funding, LLC is expanding and relocating its presence at the building by signing a new lease for 1,939 square feet. The investment advisory firm is relocating from the 11th to the 7th floor and adding 660 square feet. Kate Hemmerdinger Goodman handled the leasing negotiations with Industrial Development Funding in-house. Asking rent on all three transactions was $62.
Kate Hemmerdinger Goodman remarked, “We are thrilled to welcome new and returning tenants to our community at 381 Park Avenue South. These transactions underscore our unwavering dedication to offering high-quality spaces and unparalleled services that cater to the evolving needs of businesses in Midtown South. We look forward to fostering even more collaboration and success as our vibrant tenant roster continues to expand.”
These deals further extend the 17-story building’s leasing momentum. Recently, ATCO announced Eton Inc., a full-service menswear company, signed a 5,000-square-foot lease at the building. Earlier this year Caudalie Inc., a French skincare company, announced it was establishing a 14,000-square-foot U.S. headquarters at the property.
381 Park Avenue South was built in the early 1900’s and offers sunny exposures and flexible floorplates. Boasting 17 floors totaling 228,000 square feet, the boutique property sits just steps from Madison Square Park and several subway lines, including the N, Q, R and 6 trains. Asking rent on all three transactions was $62.
Other prominent office tenants in the building include FGS Design LLC, Two Sticks Inc., EVOS, ListenFirst Media and the Stephen B. Jacobs Group. Famed bakery and restaurant Sarabeth’s Kitchen is located at the base of 381 Park Avenue South.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on value-add opportunities in urban locations. We seek to improve people’s lives by creating places that they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. ATCO presently owns and manages more than 20 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to high tech flex buildings. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South. Nationally, the company owns properties in Austin, Texas; Chapel Hill and Charlotte, North Carolina; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut; Baltimore, Maryland; and Orlando, Florida. Internationally, ATCO has investments in seven European countries.
