Private equity firm Apax Partners has extended its lease for 31,400 square feet at 601 Lexington Avenue between East 53rd and East 54th Streets, Commercial Observer has learned. The firm has committed to another 10 years at the Boston Properties-owned building.
Apax Partners has occupied the entire 53rd floor since 2005, according to Savills Studley, which managed the renewal.
Savills Studley’s Stephen Berliner, Daniel Horowitz, Jeffrey Peck, Peter Cipriano and Gary Kerper represented Apax Partners in the deal.
“What tethered [Apax Partners] to the building is the fact that this is an iconic building with some of the best views in the city,” said Mr. Horowitz. “We structured a renewal transaction at competitive economics given the overall value proposition.”
Mr. Horowitz declined to comment on asking rents...Private Equity Firm Renews More Than 30K SF at 601 Lex
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