NEW YORK—Monday Properties is relocating its headquarters to a full floor, 16,336 square feet, at Park Avenue Tower. Located at 65 E. 55^th St., between Park and Madison avenues, the building is in the center of the Plaza district. Industry sources tell GlobeSt.com that the asking rent was $135 to $140 per square foot.

The building's owner and operator Equity Office has signed a lease for Monday Properties to occupy the entire 27^th floor of the 620,000 square-foot, 36-story tower for 15 years.

Equity Office recently completed a capital improvements program at the property, which was originally built in 1986. The redevelopment added a 20,000 square-foot space with a fitness facility, business lounge and workplace eatery. The upgrades included renovating the plaza, lobby and updating the mechanical systems.

Monday Properties plans to move from its current location at 667 Madison Ave., between 60^th and 61^st streets, in the second quarter of 2018.

Other Park Avenue Tower tenants include the National Bank of Canada, Oak Hill Capital Management, TowerBrook Capital Partners, Eminence Capital, Stephens, Inc., Avista Holdings, Cyrus Capital Partners, East Rock Capital Management and ICM Partners.

With real estate in Los Angeles, Washington, DC and New York, Monday Properties is well known for selling the iconic Helmsley Building for $1.2 billion to RXR Realty in 2015. Equity Office is an affiliate of the Blackstone Group, and operates a portfolio of approximately 50 million square feet of office space.

JLL brokers, Alex Chudnoff and Ben Bass, represented Monday Properties. Equity Office was represented in-house by Zach Freeman and Scott Silverstein, and by Newmark Knight Frank brokers, Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman.

The building's owner and operator Equity Office has signed a lease for Monday Properties to occupy the entire 27^th floor of the 620,000 square-foot, 36-story tower for 15 years.

Monday Properties plans to move from its current location at 667 Madison Ave., between 60^th and 61^st streets, in the second quarter of 2018.

Instant Insights /

Monday Properties Moves to the Plaza District's Park Avenue Tower

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