381 Park Ave. South Signs on Three New Tenants
The leases bring ATCO’s Midtown South office building to 99% occupied.
NEW YORK CITY—ATCO Properties & Management completed three leasing transactions totaling 16,022 square feet at 381 Park Ave. South. Constructed in 1909, the 210,000 square-foot building is located between E. 26th and E. 27th streets, in Midtown South. Asking rents in the building were $65 per square foot.
In the largest transaction, ListenFirst Media, Inc. signed a three-year, 10,439 square-foot lease. The company, which provides social media analytics information for consumer product companies, will occupy a portion of the fourth floor. Its lease begins this month.
ListenFirst was represented by Jamie Katcher and Sebastian Infante of Cushman & Wakefield. William Carr and John Cinosky of ATCO Brokerage Services represented the building ownership in-house.
In addition to ListenFirst’s relocation, ATCO inked two other deals.
The events and entertainment agency, iDeko Production, LLC will rent 4,438 square feet on the eleventh floor. Their five-year lease begins this month. Carr, Cinosky and Peter Goldich of ATCO Brokerage Services provided in-house representation for the owner. There were no outside brokers for the tenant.
Finally, Fleischman: A Men’s Salon signed a seven-year deal to rent a portion of the eighth floor. Founded by a local stylist, Erica Fleischman, the business specializes in men’s haircuts, styling and grooming. It will open its Park Avenue South location in January 2019. Carr and Cinosky of ATCO Brokerage Services again represented the building ownership, while Lance Weitz of J.F.W. Realty Corp represented Fleischman.
Constructed in 1909, the building has the traditional structure and architecture that’s now in demand by creative industry tenants.
Earlier this year, the cloud-based communications company, Fuze Inc., moved its New York offices into the building. In 2016, Superfly Productions, a company that produces large-scale events such as the Bonnaroo Music & Arts Festival in Tennessee and the Outside Lands festival in San Francisco, set up its new, 16,000 square-foot headquarters at the property. Other tenants include Stephen B. Jacobs Group; Goldstein, Rikon, Rikon & Houghton, P.C.; Williams Lea; and Travel Planners. Plus, the popular restaurant and bakery, Sarabeth’s Kitchen, opened at the location in 2012.
“381 Park Avenue [South] continues to be a choice destination for creative and technology companies, given our outstanding location near Madison Square Park and several major subway lines,” says Kate Hemmerdinger Goodman, co-president at ATCO Properties & Management. She also notes the building is now 99% occupied.