Tech Company Inks Midtown Manhattan Lease Renewal
- May 03, 2017
Silverstein Properties recently announced it has signed a lease renewal with one of its tenants at the 20-story office property at 529 Fifth Ave. in the hot submarket of Midtown Manhattan.
Eze Castle Integration, a Boston-based tech company that provides cloud and IT services for hedge funds and private equity firms, will expand its presence in the building with an additional 17,925 square feet of office space across the entire seventh floor. According to Yardi Matrix, the company has been a tenant in Silverstein Properties’ building since early 2006, when it signed a lease for 17,491 square feet. Alongside retail chain Best Buy and diamond company Jewelex, Eze Castle is one of the building’s oldest tenants. While the asking rent remained undisclosed, rents here range between $50 and $60 per-square-foot.
CBRE’s Ben Friedland, Michael Movshovich, and Taylor Scheinman represented Eze Castle Integration in the transaction, while Silverstein Properties was represented in-house by Roger Silverstein, Joseph Artusa and Camille McGratty. The tenant was also represented by Robert Schlein of Prince Lobel Tye and the landlord was represented by Jeffrey Samuels of Wilk Auslander.
Located between East 43rd and East 44th streets and close to Bryant Park, Grand Central Station and Times Square, the 282,278-square-foot building was designed by Emery Roth & Sons and completed in 1958. Two decades later, Silverstein Properties acquired the property for $4.1 million from Deutsche Asset & Wealth Management. The building recently went through a complex renovation project that resulted in new storefront entrances, elevator cabs, turnstiles, security desk, and marble walls and floors accented with stainless steel and ebony wood. Citrin Cooperman and Moffatt & Nichol also have offices in the building.
“Our recently completed lobby renovation at 529 Fifth Ave. has created a fully modernized environment for our tenants in a central location near all that Midtown has to offer,” said Roger Silverstein, executive vice president of Silverstein Properties, in prepared remarks.
Image courtesy of Yardi Matrix