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Midtown South Leasing Stays Hot

NEW YORK CITY-Two buildings owned by ABS Partners are nearly 100% occupied, a sign that the neighborhood is still a hotbed for creative and tech tenants, the firm tells GlobeSt.com's Jacqueline Hlavenka.

By Jacqueline Hlavenka | Updated on November 23, 2011

NEW YORK CITY-From the Flatiron District to Midtown West, a recent flurry of office leasing is a testament to the diversity—and value—of the area’s existing building stock, says owner/manager ABS Partners Real Estate LLC. Over the last several weeks, the firm has brought the 180,000-square-foot office building at 20 W. 22nd St. and the 17-story office at 29 W. 38th St. to nearly 100% occupancy, a sign that creative and high-tech tenants are still finding space in the tight Midtown South submarket.

“We had a tough time in the beginning, but people rented and rented and the area got hotter and hotter,” says John L. Gols, executive managing director at ABS Partners, who tells GlobeSt.com that the firm acquired 20 W. 22nd St. in the early 2000s and repositioned it in order to attract new companies. “It was always a great location because it is right off Fifth Avenue,” he says, noting that the renovations included a new lobby, elevators, windows, bathrooms, floors and lighting. “It just took off.”

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