Private equity firm Incline Equity Partners has signed a 14,198-square-foot lease at 101 Park Ave., HJ Kalikow & Co. LLC’s Midtown Manhattan tower.
Incline Equity’s new space at the office building will be on the 47th floor, in addition to the existing 18,000-square-foot lease on the 46th floor. The company relocated to 101 Park Ave. in 2023, doubling its previous office space at 505 Fifth Ave.
JLL’s Vice Chairman Alexander Chudnoff, Senior Managing Director Nick Francic, Vice Chairman Harrison Potter and Senior Associate Kate Roush worked on behalf of the tenant, while Cushman & Wakefield’s Executive Vice Chairman John Cefaly and Managing Director Nicholas Dysenchuk represented the ownership in the transaction.
HJ Kalikow & Co. has owned and operated the property since it was built in 1982. The Manhattan tower is currently the subject of a $365 million 10-year fixed-rate loan originated by Bank of America in 2018, according to CommercialEdge information.
49 stories above Manhattan
The Class A, LEED Gold-certified property consists of 1.3 million square feet of space across 49 stories. The building features a five-story lobby entrance, as well as 30,000 square feet of retail space and a 17,000-square-foot, two-story museum. Amenities include full-time concierge services, Club 101, a dining club, a business and entertainment venue and a tech-enabled corporate event space. Federal Home Loan Bank of New York, Fox Rothschild LLP, Morgan Lewis and Hound Partners LLC are among the property’s tenants.
Located at the corner of 40th Street and Park Avenue, the office tower is less than 1 mile from the Grand Central – 42nd Street subway station, Bryant Park and Times Square.
Earlier this week, JLL and Colliers brokered a major office lease at 1166 Avenue of the Americas in Manhattan. The Federal Deposit Insurance Corp. signed a 10-year agreement to occupy 147,543 square feet at Edward J. Minskoff Equities’ property.