NEW YORK CITY-TCC Group has signed a 10-year lease for 10,400 sf at 31 W. 27th St. where the firm will occupy the entire fourth floor. With this lease, TCC Group will move from its Grand Central area building at 50 E. 42nd St. and double its space.

David Lebenstein, senior managing director Colliers ABR, along with Debra Wollens, associate director of Colliers ABR, represented TCC Group. Mitchell Konsker and Robert Gallucci of Cushman & Wakefield and Alex Levine of the Witkoff Group represented the landlord. Michael Utevsky served as the attorney for the tenant and Richard Cohen of the Witkoff Group represented the landlord.

A Colliers ABR spokesperson tells that they cannot disclose the price per sf or the aggregate value of the lease. However, a source close to the deal tells that asking rents range in the high $30s at this particular location. The source also tells that the 19th floor of 50 E. 42nd St.–where the consulting firm moved from–is currently being marketed for lease.

The spokesperson did say that the reason they needed to move was because of the cost in the Grand Central submarket where their office was located. “TCC Group needed to double its space, but the tight Grand Central submarket and high rents made it difficult to stay in the Grand Central area,” says David Lebenstein. “It was important to TCC Group to stay close to Midtown with easy access to both Penn Station and Grand Central Terminal. By moving to Midtown South, we were able to secure a reasonably high quality space for an affordable price.”

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