Leading private equity investment group Apax Partners LP has extended its 31,400-square-foot lease at 601 Lexington Ave. in New York City.
The tenant signed a 10-year renewal for the entire 53rd floor in the building, space that it has occupied since 2005.
"Ultimately, the firm decided they couldn’t recreate the prestige and overall quality of their existing space at a price point compelling enough to warrant a relocation," said Daniel O. Horowitz, executive vice president with Savills Studley, who mentioned Apax explored several alternative locations before recommitting. "Boston Properties continually re-invests in this asset, making it a true trophy building." Located in the heart of Midtown Manhattan, the 59-story, 1.67 million-square-foot, 4-Star office tower was built in 1977 on 1.5 acres in the Plaza District submarket at Third Ave., between E. 53rd and 54th Streets. It features direct access to atrium shops, restaurants, a 24 Hour Fitness health club, and subway access. Kirkland & Ellis co-anchors the building with Citibank.
Stephen Berliner, Daniel Horowitz, Jeffrey Peck, Peter Cipriano, and Gary Kerper with Savills Studley represented the tenant in lease negotiations. Andrew Levin and Peter Hansen of Boston Properties represented the landlord in-house. Apax Ptnrs Extends 31,000 SF Lease at 601 Lexington
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