Brause Keeps Full Office Leasing in Manhattan at 320 Fifth Ave.
New York City-based commercial real estate agency Resolution Real Estate Partners recently announced that it had arranged an office lease renewal and expansion that would secure continued full occupancy at 320 Fifth Ave.
Resolution Real Estate Executive VP and the building’s exclusive leasing agent, Jonata Dayan, worked on behalf of the property owner in both office lease transactions:
- Award-winning design and branding firm Marine Lane signed a five-year renewal lease for its 1,089-square-foot offices on the fifth floor. The tenant was represented by Cresa Managing Principal, Bert Rosenblatt.
- National hotel services company Mevram Services LLC — a long-time tenant at the property —doubled its footprint to occupy 2,008 square feet on the sixth floor. Ms. Dayan also represented Mevram in this deal.
“We are delighted to see this building continue to flourish,” Dayan said. “Brause Realty Inc. is a hands-on owner that has provided top-of-the-line renovations and building improvements geared to retaining tenants in the long term. It is these kinds of efforts that have brought the tenants back to their offices during the work week.”
Originally built in 1904, the office building rises 12 stories and offers tenants 24/7 access, 365 days a year. Owned by Brause Realty Inc., the property is located at the intersection of Fifth Avenue and 32nd Street in Koreatown and includes nearly 90,000 square feet of Midtown Manhattan office space, in addition to 10,700 square feet of retail. There are also three transportation hubs in close proximity, as well as numerous retail, dining, and entertainment amenities within walking distance.
The property at 320 Fifth Ave. features partial floor suites that range between roughly 900 and 5,300 rentable square feet, as well as full floors that range from 10,150 to 11,730 rentable square feet. The building’s vaulted-ceiling lobby was restored on its 100th anniversary in 2004, while recent property upgrades include fully modernized elevators and renovated floors.
According to statements released regarding this latest leasing activity, Resolution expects a 2,842-square-foot office space to become available for lease on the 11th floor in early Q4 2023.
