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Riverbank Realty closes on 88,000 sf at 345 Park.

As exclusive leasing agent to 345 Park Avenue South, Riverbank Realty Company has signed leases for 88,232 square feet in under six months into the project. Bill Communications, Inc. has leased 66,174 square feet and Kaleidoscope Holdings, Inc. has leased 22,058 square feet. The marketing campaign is under the direction of chairman Bruce Mosler and senior vice president Mitchell Konsker and Paul Glickman.

Bill Communications lnc. is a national communications and publishing firm which owns several magazines and journals. The firm will occupy three full floors in the building. Bill was represented by Arlene Wysong and Phil Schaefer, both directors of the Sylvan Lawrence Company, Inc. The 12-year lease was reportedly valued at over $17.5 million.

Kaleidoseope Holdings has signed a 10-year lease and will occupy a full floor in the property. The company is a newly formed sports marketing and advertising firm that was created from a merger among three existing companies, one of which includes a division of Saatchi & Saatchi. The lease was reportedly valued at over $5 million. The tenant was represented by Stuart Marshak, president and Dennis Someck, sales manager of Stuart Marshak Real Estate Corp.

345 Park Avenue South is located between 25th and 26th Streets in Manhattan.
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Title Annotation:commercial space leased in New York, New York
Publication:Real Estate Weekly
Date:Oct 28, 1992
Previous Article:Wm. A. White to lease to Downtown properties.
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