Paul N. Glickman and Steven S. Bauer of Cushman & Wakefield negotiated on behalf of the landlord, 875 Third Avenue LLC. C&W is the exclusive leasing agent for the site. Mark Boisi and Joe Grotto Jr., of Colliers ABR, represented Svenska. Daniel Madison and Jeff Rosbash of Newmark represented Elan Pharmaceuticals. Glickman, an executive vice president at Cushman & Wakefield, says 875 Third has "become a highly desirable address among financial services and law firms."

Svenska Handelsbanken was previously located at 153 E. 53rd St., while Elan was previously located at 345 Park Ave. Boisi and Grotto had to find a tenant for the bank's current office comprised of the entire 37th floor at the Citigroup Building. They were able to assign the bank's lease, which ran to June 2008, to an existing tenant--law firm Kirkland & Ellis LLP--which was represented by Studley CEO Mitch Steir. Though no financial information was released, space at the site is currently advertised in the upper $40s per sf.

Designed by Skidmore Owings and Merrill, 875 Third Ave. features a five-story atrium lobby, upscale food courtyard, panoramic views and high level building security. Out of its 29 floors and total of 662,588 sq. ft., only a 4,400-sq.-ft. prebuilt suite remains available. Other major tenants currently in the building include the law firms Hogan & Hartson and Thelen Reid & Priest, and the financial services firm Exis Capital Management.