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Petersen Publishing relocates.

Petersen Publishing relocates

Petersen Publishing has announced its relocation and renewal at 437 Madison Avenue in New York, Riverbank Realty Company acted as the exclusive broker. Executive Vice President A. Mitti Liebersohn and Lloyd Desatnick of Riverbank Realty handled the transaction, which will entail moving the company from three non-contiguous spaces to 29,300 square feet on the entire 4th floor of the building. The term included a 12-year lease, however the aggregate value was not disclosed.

In discussing the transaction, Mr. Liebersohn commented: "We wanted to capitalize on the strengths of the property and location, while providing Petersen Publishing with an efficient office design to accommodate its short and long-term needs. By restructuring the lease at 437 Madison, Riverbank was able to solve the client's real estate problems."
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Nov 20, 1991
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