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JRT closes 11 deals at 780 Third Ave.

Leasing in midtown Manhattan continues to be active as evidenced by 11 recently announced lease agreements totaling approximately 54,420 s/f of executive office space at 780 Third Ave., in Midtown Manhattan. JRT Realty Group, Inc., along with its strategic alliance partner, Cushman & Wakefield, handled the transactions. JRT serves as the exclusive leasing and managing agent of the Class-A office tower owned by TIAA-CREF, the national financial services organization.

The most recent lease agreements were negotiated on behalf of Akin Bay Company, LLC; C. Czarnikow Sugar, Inc.; Elisa Dreier Reporting Company; Hyatt Corporation; Indigo Securities, LLC; ING Investment Management Alternative Assets, LLC; Law Offices of Joseph E. Bachelder; LNGJ-USA, Inc.; Sandier O'Neill Asset Management, LLC and SOAM Holdings, LLC; Smith Hanley Associates, LLC; and Spunk, LLC.

"Located within the Grand Central District, 780 Third Avenue has all the amenities of Park Avenue with more attractive rental rates," explained Greg Smith, executive vice president of JRT Realty. "Financial services firms, followed by legal firms, have become Midtown's leading tenant base. These companies are seeking out more modern buildings, like 780 Third Avenue, that feature a strong infrastructure. This is a key contributing factor toward the decline in this market's vacancy rates."

Situated between 48th and 49th Streets on the entire westerly side of Third Avenue, the building is a 50-story, 570-foot high-rise tower. Set back to accommodate a large urban plaza featuring professionally landscaped trees, 780 Third Ave. has a polished granite exterior. Amenities include a 154-seat business conference center, available to tenants at no charge; concierge services; restaurant dining; and the latest in business communications technology. Grand Central Station, the Waldorf Astoria and United Nations are just blocks away.

JRT Realty is the largest certified woman-owned commercial real estate services firm in the country.
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Publication:Real Estate Weekly
Date:Nov 1, 2006
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