EQ Office Signs Two New Leases After Repositioning Park Avenue Tower

Park Avenue Tower/ photo credit: Real Estate Arts

NEW YORK CITY—EQ Office has doubled leasing at Park Avenue Tower following its capital improvements program. With the two latest signings, EQ Office has secured 265,000 square feet of leases, raising building occupancy from 40% in 2016 to 80% today. The skyscraper’s tony address is in the heart of the Plaza District, at 65 E. 55th St., off Park Avenue standing between E. 55th and E. 56th streets.

The Rohatyn Group signed a 10-year, 10,317 square-foot lease. The specialized asset management firm, which focuses on emerging markets and real estate, is relocating its headquarters from 280 Park Ave. CM Investment Partners, an investment management firm specializing in secured direct lending primarily to US middle market companies, signed a 4,597 square-foot lease. It’s moving from 601 Lexington Ave. Both firms will occupy a portion of the 15th floor, by the end of 2018. EQ Office is prebuilding the space. A source with knowledge of the transactions tells GlobeSt.com that the asking rents in the building range from $90 to $150.