""This long term renewal caps a relationship with SatterleeStephens that is already a quarter century old," says MondayProperties COO Brian Robin in a release. Monday Properties' JordanBerger and a CB Richard Ellis team led by Paul Amrich representedthe landlord. Saterlee Stephens, founded in 1894 by Herbert L.Satterlee, was represented in negotiations by Peter Hennessy,Martin Horner, Joseph Pollaci and Drew Saunders of Jones LangLaSalle.


According to figures released Tuesday by Cushman &Wakefield, Midtown's Grand Central submarket, which includes 230Park, has seen a 126.1% uptick in leasing uptick year to date whencompared to the same time period in 2009. In terms of class Aoffice space, it's the second largest submarket in Manhattan with36 million square feet, exceeded only by the SixthAvenue/Rockefeller Center tally of 37.8 million feet.


Among the Q1 deals signed by Monday Properties at 230 Park werea new lease for 22,000 square feet by Six Flags and a renewal bylaw firm Lathrop & Gage. The latter nearly doubled its spacefrom 11,400 square feet to 20,400. Asking rents at the property arereportedly in the range of $50 per square foot.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.