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Financial Firm Takes 59,000 SF at 237 Park

NEW YORK CITY-UBS signs a 10-year deal for 59,000 sf at 237 Park Ave. The firm is currently subleasing space from advertising giant JWT, which has 270,280 sf of space in the Midtown site.

By Barbara Jarvie | Updated on July 28, 2005

NEW YORK CITY-UBS Securities has inked a 10-year deal for 59,000 sf at the 1.2-million-sf 237 Park Ave. The financial services firm leased the entire ninth floor in the Midtown asset, which is located on Park Avenue between 45th and 46th streets.

Donald DiRenzo of Cushman & Wakefield Inc. represented UBS. The ownership, Monday Properties, was self represented by Brian Robin, chief operating officer. Additional lease information was not available; however, space in the site is advertised for $62 per sf.

The company currently occupies space at the building as a subtenant of J. Walter Thompson Co. Earlier this year, J. Walter Thompson, now known as JWT, the largest advertising agency in the US, renewed its deal for 270,280 sf of space. The company has had its headquarters space in the site since it opened 25 years ago. Other tenants include Revlon, Credit Suisse Asset Management and Warburg Pincus & Co. Monday Properties, then known as Max Capital Management, paid $455 million for 237 Park in October 2003.

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