485 Lexington Ave.
NEW YORK CITY—Ankura Consulting Group has signed a new 29,698 square-foot, 15-year lease at 485 Lexington Ave. with SL Green. The asking rent was $69 per rentable square foot, according to industry sources.
The business advisory and expert services firm has substantially grown from an initial 12,000 square feet at SL Green's 750 Third Ave. Ankura is doubling its existing footprint in the building to 59,272 square feet, occupying the ninth and 10th floors. In January 2018, the firm signed a 15-year, 29,574 square-foot lease at 485 Lexington Ave., relocating from its Third Ave. address. The tenants will expand into the new space in January 2019.
“This is the third lease with Ankura Consulting we've completed over the past 18 months and affirms our desire to work collaboratively with our tenants to accommodate their rapidly changing space needs,” said Steve Durels, EVP and director of leasing and real property at SL Green.
“Our growth is based upon client relationships and the expertise of our people,” says Philip Daddona, co-president of Ankura Consulting, who also notes the value of its long-term relationship with and the professionalism of its landlord SL Green.
Other tenants include Travelers Insurance, Offit Capital Advisors and the law firm Phillips Nizer. Retailers Pret A Manger, Gregory's Coffee, Soul Cycle and Bright Horizons have also opened shop in the building.
Close to Grand Central Terminal, 485 Lexington stands between E. 46th and E. 47th streets. Built in 1957, the 32-story, 929,765 square-foot office tower also has a 100-car, on-site parking garage.
All of the brokers handling the deal were from Jones Lang LaSalle. Don Preate represented Ankura. Paul Glickman, Ben Bass, Diana Biasotti and Jon Fanuzzi represented SL Green.
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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.
