BILL BERKIS OF WINOKER REALTY BROKERS 16,200 SF OFFICE SUBLEASE
New York, NY: Bill Berkis, senior managing director atManhattan-based commercial brokerage firm Winoker Realty Company, has negotiated a 16,200 square foot sublease at 215 Park Avenue South with Xeno Group, Inc. on behalf of subtenant Lippe Taylor, Inc.
Berkis negotiated the 5.5 year sublease for Lippe Taylor, Inc., a well established public relations firm. The sublessor Xeno Group, a marketing firm, was represented by Rob Hill and Brian Hay of CB Richard Ellis on the transaction.
“The sublease market is full of opportunities, so we worked diligently to try to identify potential deals that were the right size, the right price and in the right location for Lippe Taylor,” said Berkis.
"We looked at many different spaces during the search process and the Xeno space was fully built and wired and reasonably priced. For Lippe Taylor, this represented a winning combination of factors that exceeded their expectations.”
The new sublease, which begins in March, encompasses the entire sixteenth floor of 215 Park Avenue South. Lippe Taylor currently leases approximately 20,000 square feet on three separate floors nearby at 235 Park Avenue South. As a result of this new transaction, Lippe Taylor’s staff will soon be able to work on one floor and no longer deal with the inefficiencies associated with being on three separate floors. Xeno Group originally signed a ten year lease which expires in 2015.
Located on the southeast corner of 18th Street and Park Avenue South in the heart of the Union Square business district, the 20-story office building at 215 Park Avenue South offers full service building amenities. Manhattan office REIT SL Green Realty Corp. owns and manages the property.