Fifth Ave. site suits investment firms.

Cushman & Wakefield announced five new leases at One East 52nd Street, a boutique office-tower above Ferragamo's stunning new retail location on Fifth Avenue in Midtown.

One East 52nd Street and 663 Fifth Ave., completed in 2003, are the product of Ferragamo's transformation of its owned property at 663 Fifth Ave. and its net leased property at 655 Fifth Ave.

The luxury-goods retailer completely redeveloped the buildings with Zegna and Ferragamo flagship stores at the base and modern high-end office space at the top.

Three of the five transactions completed involved investment firms, including W Capital Management for 6,550 square feet on the fifth floor; Coventry Real Estate Advisors for 6,550 square feet on the fourth floor; and Ram Capital for 4,000 square feet on the sixth floor. The other transactions included 10,000 square feet of office space for Zegna on the third floor, and 1,500 square feet on the sixth floor for real estate firm J.C. Partners.

Cushman & Wakefield brokerage professionals John S. Isaacs, Tamara Galinsky and Robert Tanzmann represent Ferragamo exclusively in marketing and leasing available space at One East 52nd St. to prospective tenants.

Mr. Isaacs said the building's new construction, high-quality infrastructure and "boutique" floor sizes appeal to prestigious firms with smaller requirements. Ferragamo's high-end prebuilt floors have been especially attractive to financial firms seeking glass walls, stone flooring, wood doors, and 10-foot ceilings.

Mr. Isaacs said, "At One East 52nd St., the smaller floor sizes enable a significant presence for each tenant."

Brokers representing the tenants in the transactions included Mike Gerla of Jones Lang Lasalle, for W Capital; Ms. Galinsky of Cushman & Wakefield, for Ram Capital; and Myers Mermel of TenantWise.com, for Coventry Real Estate (J.C. Partners was self represented).