Denihan Taps Agent for 100,000-SF Property

NEW YORK CITY-CB Richard Ellis has been awarded the leasing and management agency at 500 W. 37th St., a six-story boutique office building here. The property is situated in Midtown West, near the proposed Hudson Yards development site and just one block from Jacob K. Javits Convention Center. Denihan Capital, a real estate investment family firm who originally developed the property in 1991, has appointed the CBRE team of Zachary Freeman, Robert Flippin and Conor Denihan to spearhead the marketing efforts.

The property currently offers approximately 100,000 sf of contiguous available space ranging from smaller units of 4,680 sf to full floors of 18,301 sf. In addition to the office space, the CBRE team is also marketing more than 5,000 sf of prime, ground floor space. Asking rents for office space are $47 per sf. CBRE’s Asset Management team of Paul Allegretti and George Bibb will oversee the building’s day-to-day operation.

“We’ve already attracted a great deal of interest from advertising firms and new media companies seeking an alternative to the higher Midtown rents and the excellent signage and corporate branding opportunities the building offers,” Freeman explains. “The landlord is also planning a multi-million dollar capital improvement program, which will virtually create a new boutique office property and meet the highest specifications.”