Garment District Tower Transforms To a Modern and Mixed-Use Office Building with First TAMI Tenant
The Kaufman Organization (Kaufman), a full-service commercial real estate firm and The Adler Group’s exclusive leasing agent for 550 Seventh Avenue,announced today that the firm secured a 12,015-square-foot lease for InVision Communications at the building. The elite communications agency is the building’s first TAMI (technology, advertising, media, and information) tenant and represents the transformation of the high-fashion building to a modern and mixed-tenant office space.
Relocating from 535 Eighth Avenue, InVision Communications was named among Inc.’s 5000 fastest growing private companies and took a full-floor space on the 17th floor. The communications agency provides strategies and execution leading services for businesses to achieve their objectives in the United States, Europe, the Middle East, Africa and Asia. The company’s long-tenured clients, include home furnishing store, Williams-Sonoma; biopharmaceutical company; NSM and technology forum, Freescale.
“We are excited to have InVision Communications join 550 Seventh Avenue, as the creative agency represents the first steps in repositioning the building to a modern, mixed-tenant building,” said Michael Heaner, partner at Kaufman. “550 Seventh Avenue is outfitted with the capabilities to support the growth of creative companies ranging from technology to architectural firms, and we look forward to attracting this diverse mix of high-quality tenants.”
Heaner and Sam Stein of Kaufman represented the landlord, The Adler Group, in the transaction while Robin Fisher and Christie Bennet of Newmark Grubb Knight Frankrepresented the tenant. Asking rent was $60-per-square-foot.
550 Seventh Avenue is a 25-story, Art Deco office building centrally located in Midtown between West 39th and West 40th Streets in close proximity to major transportation hubs, including Penn Station, Port Authority, PATH train, and the N, R, Q, S, 1, 2, 3 and 7 MTA subway lines.
The building’s office space showcases open layouts, expansive full-floor workspaces, all-glass offices, and large windows. Each full-floor space is equipped with the optimal setting and functionalities for tenants to continue to grow their business, including high-speed internet, key cards for after-hour access, 24/7 staffed lobby, and on-site management. The office tower is undergoing a capital improvement campaign, which will result in a renovated lobby and façade.
550 Seventh Avenue has limited availability with only three, full-floor, 12,015-square-foot spaces remaining on the 14th, 15th and 16th floors. In addition, approximately 6000-square-feet of retail space on the ground floor is also available for lease.
For more information regarding 550 Seventh Avenue, please visit http://www.550seventhave.com, contact Michael Heaner at 212-471-4310 orMichaelH@kaufmanorganization.com, or Sam Stein at 646-421-6425 or Sams@kaufmanorganization.com.
About The Kaufman Organization
With over 100 years of experience and six million square feet of owned or managed space, the Kaufman Organization has long been considered one of the most prominent and well-respected real estate companies in the New York metropolitan area. The company offers a fully integrated spectrum of leasing and management services to diverse owners and tenants and is continually looking to build its portfolio through property acquisitions. For more information, visit www.kaufmanorganization.com.
