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3 Park Ave. Reaches 100% Occupancy

NEW YORK CITY-After C&W brought ICON Capital Corp, F/X Concepts and Le Pain Quotidien to the building, a new 75,000-square-foot lease has completed a six-month leasing effort here.

By Jacqueline Hlavenka | Updated on September 08, 2011

NEW YORK CITY-After a six-month leasing effort, a 75,000-square-foot renewal/expansion lease with longtime tenant TransPerfect International Inc. has brought the Cohen Brothers Realty Corporation’s 41-story tower at 3 Park Ave. to 100% occupancy, the owner/developer announced. The global business firm took an additional 23,240 square feet of space on three different floors, completing a successful lease-up at the 700,000-square-foot tower.

Charles Cohen, president and CEO of Cohen Brothers Realty Corp, attributes the strength of the building to its Midtown South location, proximity to public transit, new construction in the lobby and amenities. “You also have stable ownership,” Cohen tells GlobeSt.com. “We built the building, we manage the building and we are very hands-on with build-out over the tenant space. We are very vertically integrated. Tenants in today’s marketplace need to be in a safe environment given the vagaries of the economic climate in the country and in the city.” Asking rents range in the $50s per square foot, he adds.

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