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Lukoil Moves Operations to Midtown

NEW YORK CITY-The Russian oil wholesaler is consolidating its New Jersey and Long Island operations to a 20,433-square-foot space at 1095 Ave. of the Americas.

By Paul Bubny | Updated on December 17, 2009

NEW YORK CITY-Lukoil Pan Americas is consolidating its crude oil and refined products trading operations, taking an 11-year lease for 20,433 square feet at the Blackstone Group’s 1095 Ave. of the Americas. Until now, the two operations were located in Red Bank, NJ and East Meadow, NY.

“We were fortunate to hit the market at the right time,” says John Mambrino, senior managing director of Studley, in a release. Mambrino, who represented Lukoil along with Studley managing director Nicholas Farmakis, adds that 1095 Sixth Ave. “represented the best option” out of a handful of well-located properties.

He notes that the property’s location near Bryant Park and convenience to mass transit access access for Lukoil employees were strong draws. Adds Farmakis in the release, “The building itself has been impressively renovated, and the landlord is constructing Lukoil’s space on the 33rd floor to its specifications.” Lease terms were not disclosed; asking rents at the 1.3-million-square-foot office tower are in the high $60s per square foot.

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