What's the Deal: Bronfman Charity Signs Lease at 445 Park Ave
January 20, 2014


The Andrea and Charles Bronfman Philanthropies, a charity led by billionaire Seagram heir Charles Bronfman, is moving a couple of blocks—from 110 E. 59th St. to 445 Park Ave.

The group has signed a 6,413-square-foot lease in the office building on Park Avenue, between 56th and 57th streets.

Park Avenue Property Associates LLC listed an asking rent of $90s a square foot; the landlord will pay for most of the construction costs, said Jeffrey Peck, a senior managing director of commercial brokerage Studley Inc., who represented the Bronfmans.

Focused on promoting the Jewish and Canadian cultures, the charity will head south in the second quarter.

The Bronfmans wanted a location near its current headquarters and a good deal, Mr. Peck said.

"We needed to find a building that offered the prestige and location that the Bronfmans desired but offered a rent structure that was palatable," he said...

What's the Deal: Bronfman Charity Signs Lease at 445 Park Ave




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