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NEW YORK CITY-BCN Development has secured lease commitments for over 16,400 sf of office space through 2017 at its New York City flagship property, 315 Park Ave. S., from Phoenix Partners Group. The lease is valued at approximately $13 million.

Steven Strati of Cushman & Wakefield acted as the listing broker. David Workman of First New York Realty Co. Inc. acted as the agent for Phoenix Partners.

Craig Nassi, CEO of BCN Development, tells GlobeSt.com that Phoenix Partners took an entire floor. He also notes that rents are in the high $50s per sf at the 20-story property.

Leases in Midtown Manhattan are still getting done at great rates, Nassi explains. “I look forward to having this cutting-edge high-technology company in our building,” Nassi says. “I am delighted that Phoenix Partners recognized the desirability of 315 Park Ave. S. as the location to build their new $5-million trading floor.”

The 340,000-sf 315 Park Ave. is also headquarters to Credit Suisse. The property has a just renovated 50-year-old lobby with a $1-million detailed finish.

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