Cushman & Wakefield, in collaboration with The Stahl Organization, successfully negotiated six leases totaling 175,000 square feet at 277 Park Avenue in Midtown. Mark P. Boisi, Bryan Boisi and Stephen Bellwood of Cushman & Wakefield expertly represented The Stahl Organization in these transactions.
Sumitomo Corporation of the Americas acquired 50,000 square feet on the building’s 15th floor while Sumitomo Mitsui Banking Corporation expanded their space to include an additional 50,000 square feet on the 16th floor. Arsenal Capital Management LP secured a lease for a total of47 ,000 square feet spanning across two floors (33rd and34 th). Other notable tenants include an international bank (12 ,500 sq ft), ERM Engineering & Consulting Inc.(12 ,500 sq ft), and Ontario Teachers’ Pension Plan(5 ,000 sq ft).
The property boasts a newly renovated lobby along with an expanded amenity complex that includes retail offerings curated by renowned chef David Burke. Following its $120 million renovation project,the building has achieved an impressive occupancy rate of98 %. This accomplishment is highlighted by Connect CRE as C&W Arranges175 K-SF Lease at277 Park Avenue.
