New York, NY – June 11, 2018 – Cushman & Wakefield announced today that the firm has arranged an eight-year sublease for real estate development and management firm, Rose Associates, at 777 Third Avenue on behalf of the sublessor, Avon Products, Inc. The subtenant will occupy the building’s entire sixth floor, totaling 24,650 rentable square feet, with a sublease term through June 2026. Rose Associates is relocating from their current offices at 200 Madison Avenue, and will use the new space for their office headquarters.
A Cushman & Wakefield team led by Executive Vice Chairman, Dale Schlather, with Jonathan Fales, Michael Burlant, Heather Thomas and Greg Herman, along with a team led by Michael Katz of ACTIO Corporate Asset Advisors, represented the sublessor, Avon Products, Inc., in the transaction. Jeffrey Rosenblatt of Advisors Commercial Real Estate represented the subtenant, Rose Associates.
“This was a modern, turn-key office opportunity that perfectly fit the needs of the subtenant,” said Dale Schlather of Cushman & Wakefield. “Along with the space’s appealing open floor plans and flexibility, the building is ideally located in the heart of Midtown, one of the most transit accessible neighborhoods in Manhattan with Grand Central Terminal just a few blocks away.”
777 Third Avenue is a Class A office building located in the heart of Midtown Manhattan. The property offered a modern office solution with a full-floor flexible, open layout, and the building is LEED Gold certified. Avon has secured over 123,000 rentable square feet of subleases at the property. An additional 98,600 rentable square feet remains available over four floors of high-end, turn-key space.
The Midtown Manhattan neighborhood is known for its abundant hotels, restaurants, shopping and private clubs offering tenants ample entertainment and dining options. The building is also transit accessible with Grand Central Terminal, the M, E, 4, 5, 6, S, and 7 subway lines and multiple Citi Bike stations in close proximity, and quick access to FDR Drive, the Queensboro Bridge and the Midtown Tunnel.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.