NEW YORK CITY—How to you get to Carnegie Hall? Practice.

Or if you want to rent at the nearby Carnegie Hall Tower Lee & Associates NYC recently negotiated a 10-year lease for Naftali Group with the property owner TF Cornerstone. On May 1, 2019, the real estate development and investment firm will relocate from 1700 Broadway, between W. 53rd and W. 54th streets. The tenant is renting 8,455 square feet. That's the entire 45th floor in its new location at 152 W. 57th Street between Sixth and Seventh avenues. Average asking rents in the building are $77 to $95 per square foot according to CoStar.

Designed by Cesar Pelli and completed in 1991, the building gained architectural acclaim for its “impossibly skinny” appearance.

Naftali Group is known primarily for developing luxury residential condominiums. The firm's current and past portfolio comprises more than 30 projects with a total value of more than $9 billion.

Lee NYC's Corey Abdo, David Toran and Ari Waldman represented the tenant in the recently signed deal. The property owner was represented by Matt Leon of Newmark Knight Frank.

“Naftali Group's rapid growth necessitated a larger office space,” says Abdo, noting the team looked at over 30 spaces before the selection of Carnegie Hall Tower. “Their new office allows them to stay centrally located in Midtown in close proximity to many of their New York City projects.”

Instant Insights /

Naftali Group Will Move to Carnegie Hall Tower This Spring

Related Stories

Recommended For You