Stroock Advises Munich Re and Mutual of America Financial Group in Series of Office Leases in Repositioned Asset
October 18, 2022
Partner Trevor Adler, Special Counsel Debra Sapp and Associate Ida Phair advised Munich Re and Mutual of America Financial Group, as landlord, in the completion of approximately 250,000 square feet of office leases at the recently repositioned office tower at 320 Park Avenue in New York City.
The transactions bring the Midtown skyscraper to nearly full occupancy, bringing in new high-profile tenants and expanding the occupancy of existing tenants. Deals closed by the Stroock team were with financial services company Raymond James, private equity fund Audax Group, commercial real estate investment trust Ladder Capital Corp, global investment management firm Pzena Investment Management and global investment firm Permira Advisers.
The 766,000 square-foot LEED Gold certified property includes an upgraded lobby and café, second floor grill, a private building restaurant and conference center, and a newly constructed outdoor tenant amenity space. Asking rents range from $100-$125 per square foot on lower floors to $160 in the tower portion.
Read the full press release from MEAG, the asset management arm of Munich Re, here.
October 18, 2022
Partner Trevor Adler, Special Counsel Debra Sapp and Associate Ida Phair advised Munich Re and Mutual of America Financial Group, as landlord, in the completion of approximately 250,000 square feet of office leases at the recently repositioned office tower at 320 Park Avenue in New York City.
The transactions bring the Midtown skyscraper to nearly full occupancy, bringing in new high-profile tenants and expanding the occupancy of existing tenants. Deals closed by the Stroock team were with financial services company Raymond James, private equity fund Audax Group, commercial real estate investment trust Ladder Capital Corp, global investment management firm Pzena Investment Management and global investment firm Permira Advisers.
The 766,000 square-foot LEED Gold certified property includes an upgraded lobby and café, second floor grill, a private building restaurant and conference center, and a newly constructed outdoor tenant amenity space. Asking rents range from $100-$125 per square foot on lower floors to $160 in the tower portion.
Read the full press release from MEAG, the asset management arm of Munich Re, here.
Professionals
