Lend Lease, a provider of construction services, has signed a five-year lease for 12,000 square feet of additional space in Midtown, Commercial Observer has learned.
Come December, the firm will occupy the majority of the third floor at 3 East 54th Street. The 200,000-square-foot building, which is between Madison and Fifth Avenues, was selected for its proximity to one of Lend Lease’s nearby projects, said Marc Horowitz of Cohen Brothers Realty, who represented the building’s ownership in-house. He declined to elaborate.
The asking rent was $50 per square foot, according to a release from Cohen Brothers Realty.
Brent Ozarowski and Staci Goodman of Newmark Grubb Knight Frank represented Lend Lease in the deal. Ms. Goodman didn’t respond to a request for comment.
Lend Lease will retain its offices at the MetLife Building at 200 Park Avenue between East 44th and East 45th Streets, the Cohen Brothers release indicates.
Only 25,000 square feet remains available for lease.
Fashion designer Zac Posen moved into a 15,200-square-foot space at 3 East 54th Street yesterday, Mr. Horowitz said. As Commercial Observer previously reported, the second floor of the building serves as the luxury womenswear brand’s new headquarters. Other tenants in the building include Nest Fragrances, The Switzer Group, Renaissance Jewelry, Shawmut Design and Construction and HAP Investments as well as restaurants Bice and Rothman’s Steakhouse.