NEW YORK CITY—Two long-term tenants housed in a Rudin family property are moving to larger, separate, custom-built offices, both still remaining at 355 Lexington Ave.
The Central Conference of American Rabbis, the oldest and largest rabbinic organization in North America, is moving to a renovated 7,600 square-foot space on the eighth floor. The Reform Pension Board, an organization that serves the congregations, professionals and institutions of the Reform Movement, will move to a 4,000 square-foot unit on the fifth floor. Asking rents in the building range from $55 per square foot to $62 per square foot.
Rob Steinman, senior vice president at Rudin Management, says currently the two non-profits share 8,790 square feet of space, occupying the entire 18th floor. He notes they wanted renovated spaces elsewhere in the 22-story, 250,000 square-foot office building.
The moves are scheduled for the second quarter of 2018.
Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of the Rudin family holdings, emphasizes that the organizations have deep roots in the building, both having been tenants in the property since 1997.
“These new leases are a testament to our relationships with CCAR and RPB, two organizations that we have housed for nearly two decades,” Rudin says. “We are proud to help these prominent organizations continue their mission of service to their constituents and the community.”
Steinman represented building ownership in both 10-year leases. There were no outside brokers in either transaction.
Over the last year, Rudin has closed on more than 100,000 square feet of new leases and renewals in the 355 Lexington Ave. building, located in Midtown East, between 40th and 41st streets. This included NADAP, Citymeals-on-Wheels, Harry Walker Agency, Wealth Advisory Group, Rogoff & Company and Time Square Construction. They joined existing building tenants, Eastern Consolidated, Gordon & Silber P.C. and TNS Custom Research.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
