David Lebenstein, senior managing director Colliers ABR, along with Debra Wollens, associate director of Colliers ABR, represented TCC Group. Mitchell Konsker and Robert Gallucci of Cushman & Wakefield and Alex Levine of the Witkoff Group represented the landlord. Michael Utevsky served as the attorney for the tenant and Richard Cohen of the Witkoff Group represented the landlord.
A Colliers ABR spokesperson tells GlobeSt.com that they cannot disclose the price per sf or the aggregate value of the lease. However, a source close to the deal tells GlobeSt.com that asking rents range in the high $30s at this particular location. The source also tells GlobeSt.com that the 19th floor of 50 E. 42nd St.--where the consulting firm moved from--is currently being marketed for lease.
The spokesperson did say that the reason they needed to move was because of the cost in the Grand Central submarket where their office was located. "TCC Group needed to double its space, but the tight Grand Central submarket and high rents made it difficult to stay in the Grand Central area," says David Lebenstein. "It was important to TCC Group to stay close to Midtown with easy access to both Penn Station and Grand Central Terminal. By moving to Midtown South, we were able to secure a reasonably high quality space for an affordable price."
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.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
