NEW YORK CITY-Cushman & Wakefield announced Wednesday that it represented Novantas LLC, a management consulting firm headquartered here, in a sublease to Xerox Corp. at 485 Lexington Avenue, located between 46th and 47th Streets.
Cushman's Jonathan Serko, vice chairman, Andrew Ross, director and Richard Serko, senior director, represented Novantas in the transaction. Mark Maltz, with the law firm of Davis and Gilbert, represented Novantas as legal counsel. Doug Neye, SVP and Matt Astrachan, vice chairman, of Jones Lang LaSalle represented Xerox.
Novantas LLC, a provider of consulting, solutions and research services to the financial industry, subleased 14,000 square feet on the entire 22nd floor to Xerox Corp. in the 32-story, Midtown office building. A Cushman & Wakefield spokesman could not confirm the per-square-foot rate of the lease by presstime.
“As part of our ongoing representation of Novantas as its real estate service provider, our execution of a sublease with Xerox represents a successful transaction for both parties,” says Jonathan Serko in the announcement. “We continue to see activity with our clients in many sectors including financial, media, tech, and health care to name a few.”
485 Lexington Avenue is a class-A office building located in the Grand Central submarket. Built in 1956, the building is close to Grand Central Terminal and major subway lines.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
