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Regent Subleases 33,000 SF in Midtown

NEW YORK CITY-Regent Business Centers is taking over the space in 787 Seventh Ave. from Ernst & Young US LLP, which was subleasing it from the original tenant, Bank One. CB Richard Ellis brokered the deal.

By Diana M. Rodriguez | Updated on April 09, 2003

NEW YORK CITY-Adding to the overabundance of sublease transactions here, Regent Business Centers LLC has subleased 33,000 sf at 787 Seventh Ave. Ernst & Young US LLP most recently occupied the space per a sublease deal with the original tenant, Bank One.

Roger Griswold, senior VP of CB Richard Ellis’ New York tri-state region, negotiated the deal for Regent. While terms of the deal were undisclosed, a spokesperson for CBRE says the sublease is for 4.5 years and is valued at significantly less than the average direct asking rent in the building, which runs in the high $50-range.

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