Grubb & Ellis New York chairman Dan Gronich and executive managing director Robert S. Shapiro represented Landmark in negotiating the long-term lease. Scott Klau of Newmark & Co. Real Estate represented 17 Penn Plaza in the transaction. Details of the transaction are not being disclosed.
The organization is moving from temporary quarters at 40 W. 57th St. Grubb negotiated that deal after the education enterprise lost its 48,000-sf full-floor space at One World Trade Center. In its new facility, Landmark will have a private entrance in what is predominantly a residential tower, which will enable the operation to set its own hours.
"Landmark has its own unique space requirements," says Shapiro. "Seminar participants may arrive from New Jersey, Westchester County and Long Island as well as New York City. We pay special attention to the safety and comfort of Landmark's participants, and that weighed heavily into our considerations in the selection of 17 Penn Plaza."
According to Gronich, J. D. Carlisle Development Corp. president Jules Demchick committed to an extensive build-out of Landmark's space in the 36-story luxury tower. The building features a Loew's Cineplex Theater and a parking garage.
Landmark's general curriculum is based on the Landmark Forum, a three-day personal growth seminar. Advanced classes use the basic symposium as a prerequisite. The organization has 58 offices worldwide and is owned by its employees and former employees. No individual owns more than 3% of the stock.
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