Los Angeles-based Oak View Group has inked a new deal that will allow it to move into its new premises at 299 Park Ave. — a 1.2-million-square-foot office space in Midtown East currently owned by Fisher Brothers. The sport arena and venue developer and operator will occupy 18,187 square feet of office space across the 20th floor of the building after moving out of its current location at 920 Broadway in the Flatiron District.
Asking rent for the new space was $95 per square foot. Negotiations were handled in-house on behalf of the landlord by a team comprised of Marc Packman, Charles Laginestra, Clark Briffel and Josh Fisher, along with David Falk, Peter Shimkin, Eric Cagner and Andrew Sachs of Newmark. CBRE’s Sacha Zarba, Jeffrey Fischer and Joseph D’Apice represented Oak View during talks.
“299 Park Avenue is a premium building in one of the most sought-after locations in New York City, and this new space represents what we’ve been able to build and be proud of,” said Tim Leiweke, chairman and CEO of Oak View Group.
The building — which is located between East 48th and East 49th streets — was originally completed in 1967 following a design by Emery Roth. Fisher Brothers invested $20 million in refurbishing the 42-story office tower with improvements focusing on adding new marble flooring and finishes in the lobby; a 60-foot-long LED art installation custom-made by LAB at Rockwell Group; and upgrades to the building’s elevators and mechanical systems.
Other tenants that have decided to move into 299 Park include the Consulate General of Japan; SVB Securities; UBS; Freeman Spogli & Company; Lightstone; and Capital One.
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