The 374,000-sf building has recently undergone extensive renovations and no additional build out will be done by Unicef, according to Ivan Hillman of Insignia/ESG, who represented leaseholder Kallir Philips Ross. Paul Wolf of Denham Wolf Real Estate Services Inc. represented Unicef.
Asking rent for the space was $38 per square foot. Terms of the lease were not disclosed.
According to Insignia/ESG's just-released August 2001 Office Market Review, average asking rents in Midtown rose last month to $61.18 per square foot while dipping in Midtown South to $43.63 per square foot. However, availability rose to 6.9% in Midtown and dropped to 9% in Midtown South.
An additional 13,000 sf of direct space recently became available on the building's eighth floor.
333 E. 38th St. is owned by 673 First Avenue Assocs., who consented to the sublease.
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