Eleven James leases entire 10th floor, totaling 11,108 square feet, at Class A, 150,000-square-foot office building

JLL has completed a new transaction for building owner Stawski Partners at 579 Fifth Avenue with Eleven James Inc. The annual membership club for luxury timepieces signed a full-floor lease for 11,108 square feet at the Class A, 150,000-square-foot commercial office building.

The building owner was represented in the transaction by Paul N. Glickman, vice chairman; Benjamin Bass and Diana Biasotti, senior vice presidents; and Kristen Morgan and Walter Rooney, associates, all with JLL. The tenant was represented by Ross Perlman, executive managing director, Lee Brodsky, senior managing director, and Ryan Gessin, associate director, with Newmark Knight Frank.

“We are very excited to welcome Eleven James to 579 Fifth Avenue,” said Glickman“The tenant was particularly attracted by 579 Fifth Avenue’s boutique lobby and floor plate, proximity to Grand Central, and the wide range of amenities in the surrounding neighborhood. We worked closely with Eleven James to configure a layout that accommodated its operations onto a single floor.”

Eleven James inked a 10-year lease for 11,108 square feet and will occupy the entire 10th floor at 579 Fifth Avenue, located between East 47th and East 48th streets. The tenant is relocating to the building from its previous offices at 12 East 44th Street.

In the past year, JLL has completed three full-floor transactions at 579 Fifth Avenue with hedge fund Hollis Park Partners LP; a confidential law firm; and real estate investment firm HUBB NYC Properties LLC.

Stawski Partners recently completed a capital improvement program at the 17-story 579 Fifth Avenue, which was originally designed by Emery Roth & Sons. Kohn Pedersen Fox Associates was engaged to clarify 579 Fifth Avenue’s classic clean lines and refined proportions that now feature a new, white glass spandrel system, a two-story transparent glass storefront, an expanded all marble entrance lobby and upgraded vertical transportation.

Amenities at the newly redesigned building include a first-class concierge-attended lobby, elevator access via a card-key system with video file checking, private terrace setbacks on select upper floors and advanced telecommunications and life safety systems.

Only 33,197 square feet of office space remains available at 579 Fifth Avenue, including the eighth and the ninth floors, with floorplates of 11,655 square feet each; and 12th floor, a brand new pre-build measuring 9,887 square feet.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,400 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2016, the New York tri-state team completed approximately 28.2 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $12.0 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 146.7 million square feet.