Foundation inks MoMA deal.

The Harry Frank Guggenheim Foundation has committed to approximately 5,000 square feet of space at The Museum of Modern Art's new office tower designed by the internationally acclaimed architect, Yoshio Taniguchi.

The boutique office property, situated next to the recently re-opened MoMA at 25 West 53rd Street, boasts some of the most spectacular, pre-built space in the Midtown area with floor to ceiling windows and exceptional views.

The property also has a separate entrance for office tenants occupying the floors above MoMA.

The CBRE team of Roy Appel, Susan Kahaner, Megan Sheehan, Greg Sundel and Mary Ann Tighe represented the landlord, MoMA, in the complex lease negotiations. Ms. Kahaner also acted on behalf of The Harry Frank Guggenheim Foundation.

Formerly housed at 527 Madison Avenue, The Foundation will relocate its New York City headquarters to The Museum Office Building and will occupy approximately 5,000 square feet of space on the 16th floor. The Museum Office Building's prestigious image and prime location--in the heart of Midtown Manhattan--were the key factors in the foundation's decision to choose the property as their headquarters.

"Since opening its doors this past November, The Museum Office Building has become one of the most sought-after properties in Midtown Manhattan projecting a refined elegance and an image of prestige," said Ms. Kahaner. "As a result, upscale financial firms and cultural organizations have now made The Museum Office Building their home."

In addition to Guggenheim, this past January CBRE also arranged a 5,000-square-foot lease for Lloyd's, the world's leading specialist insurance provider, and a 9,350-square-foot commitment for Protege Partners LLC, a leading alternative investment firm at the property. As a result, only 5,650 square feet of office space remain available at the 16-story property.