Located between Sixth and Seventh avenues, the company has outgrown its current office at 49 W. 27th St., and will be moving into more than double the space, taking the entire ninth floor at the new location, according to a release.
Aragon, represented by Cushman & Wakefield, signed a six-year lease for its new office space after a search of more than a year. "Aragon is building a showcase premise, and was very selective in what it wanted to commit to for a new office," notes Joe Fabrizi of C&W. "The firm chose the Metropolitan Tower office because of the location and quality of the building."
Aragon's fellow tenants are four of the most renowned multi-national corporations and financial institutions in the world, Fabrizi explains.
"The appeal is that Aragon is now occupying space in a class A office building in the heart of midtown Manhattan," Fabrizi tells GlobeSt.com. "They have built out prestigious office space--and they will now be very close to their clients."
Aragon is completely altering the ninth floor of the new office that previously belonged to the Ceridian Group, an information services company, which is relocating within the building. Other notable tenants include Arbitron and Hilton Hotel Corp.
"This was a very attractive deal for Aragon--most of Aragon's competitors are located in buildings which are farther south, particularly below 42nd Street," Fabrizi notes. "So Aragon stands out among their competition for being where they are."
The 78-story, black glass Metropolitan Tower is owned and managed by L&L Acquisitions. The building features 18 stories of office space at 259,808 sf, 3,241 sf of street level retail and 49 stories of residential condominiums.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.