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Long Point Capital, Reef Road Capital, Fourth Freedom Forum, Murex Capital to occupy total of 12,508 SF at Class A, 403,469-SF office building
NEW YORK, May 22, 2013 — Jones Lang LaSalle has completed four new, direct leases, totaling 12,508 square feet, for building owner William Kaufman Organization Ltd./The Travelers Cos. Inc. at 747 Third Avenue. Long Point Capital Inc. leased 3,929 square feet of commercial office space, Reef Road Capital LLC took 3,835 square feet, Fourth Freedom Forum signed for 2,505 square feet and Murex Capital LLC leased 2,239 square feet at the Class A, 403,469 square foot commercial office building.
The building owner was represented in both transactions by Frank Doyle, vice chairman, along with Cynthia Wasserberger, managing director; Alexis Tener Petrus, vice president; and David Wassel, associate. The team worked closely with Michael Lenchner, vice president and director of leasing, with Sage Realty Corp. Reef Road Capital was represented by Brian Goldman, executive managing director; and Matthew Lorberbaum, associate director, with Newmark Grubb Knight Frank. Long Point Capital was represented by Craig Lemle, senior managing director, with Studley Inc. Fourth Freedom Forum was represented by Paul Bostick, president, with Brentler Inc. Murex Capital was represented by Paul Walker, first vice president, with CBRE Inc.
“Hedge funds and financial services firms continue to find 747 Third Avenue an excellent place in which to conduct their business, fueling the building’s status as the premier office tower in the Grand Central District,” said Doyle. “The building owners just completed a thorough renovation of the building’s elevator cabs and recently launched a rebuilding program for the exterior plaza.”
Long Point Capital will occupy a portion of the 22nd floor at 747 Third Avenue, which is located between East 46th and East 47th streets. The private investment firm is relocating to 747 Third Avenue from its previous offices at 437 Madison Avenue.
Reef Road Capital will occupy a portion of the 19th floor at the building. The financial services firm is opening its first New York office at the building.Fourth Freedom Forum will occupy a portion of the fourth floor at 747 Third Avenue. The global nonprofit organization is relocating to the building from its previous offices at 305 East 47th Street.Murex Capital will occupy a portion of the 19th floor at the building. The financial services firm is relocating to 747 Third Avenue from its previous offices at 880 Third Avenue.
William Kaufman Organization/Travelers recently completed construction of a new sidewalk outside 747 Third Avenue. The project was a crucial step forward for the building owners’ ongoing plaza renovation, which is scheduled to be completed in June 2013.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications