Morgan Stanley Re-Ups at 101 Park

NEW YORK CITY-Having secured a 79,200-square-foot lease renewal from hedge fund Tiger Management at 101 Park Ave. earlier this week, H.J. Kalikow & Co. LLC has wrapped up another financial sector renewal along with a new deal at the 49-story office tower. Morgan Stanley will stay put in 39,000 square feet at 101 Park, while Convene is taking 20,000 square feet of ground-floor space. Lease terms were not disclosed.

Morgan Stanley's long-term renewal is for the entire 24,600-square-foot 24th floor at 101 Park and part of the 23d, says a spokesman for Cushman & Wakefield, which represented the Kalikow organization in lease negotiations. Convene, which operates conference center facilities throughout New York City, is coming into 101 Park for the first time. C&W's spokesman tells GlobeSt.com the Convene space is separate from Club 101, a business luncheon club facility, also on the ground floor, that is frequently used for industry events.

In a release, Peter Kalikow, president of H.J. Kalikow, says 101 Park “continues to be a property where our tenants are able to provide their employees and clients the best environment possible for conducting business. I am very proud of the fact that 101 Park has such a prestigious roster of tenants who recognize value and stay for a long time. In fact, over 60% of the tenants at the property are original tenants.” The 1.3-million-square-foot tower was completed in 1982.

The C&W leasing team was led by John Cefaly, executive vice chairman; Gus Field, vice chairman; and senior directors Clark Finney and David McBride. Michael Laginestra, Stuart Eisenkraft and Michael Geoghegan of CBRE represented Morgan Stanley, while a CBRE team of SVPs Rocco Laginestra and Michael Whellen and VP Jared Freede negotiated on behalf of Convene.