24 Hour Local Real Estate News

Midtown South Tenant Expands to Full Building Occupancy

90 Fifth Avenue Recently renovated and reintroduced to the market by RFR, 90 Fifth Ave. is a 140,000-square-foot office building.

NEW YORK CITY—Compass, the technology-driven real estate platform, has expanded to fully occupy the office space at 90 Fifth Ave.

The tenant leased another 25,000 square feet over two additional floors, bringing its occupancy at the Midtown South building to 115,000 square feet on floors 3 through 11.  The firm has more than quadrupled its presence at 90 Fifth Ave. since signing its initial lease in the summer of 2014.

Compass was represented in the transaction by Ethan Silverstein of Cushman & Wakefield. The landlord, RFR Realty, was represented in house by Gregg Popkin and AJ Camhi as well as the JLL team of Jon Fanuzzi, Mitch Konsker, Dan Turkewitz and Adam Haber.

Compass initially leased 25,000 square feet on the third and fourth floors of 90 Fifth Ave. in July 2014.  Just a few months later, the firm doubled its commitment to 50,000 square feet, adding floors five and six.

By October 2015 the firm had expanded further for a total footprint of approximately 90,000 square feet on floors three through nine.  The new lease brings the occupier to nine floors.

“Compass continues to expand its business at 90 Fifth Ave., our newly renovated building at the intersection of 5th Avenue and 14th Street,” says Gregg Popkin, RFR president and COO.  “From its initial stages as a startup to its transformation into one of the most esteemed and sought-after residential real estate firms, Compass has grown its business from two floors to the entire office portion of 90 Fifth Ave., which represents a 115,000 square-foot commitment.”

Adds Rob Lehman, chief revenue officer at Compass, “In the first seven weeks of 2017, Compass has already added offices on the Upper East and West Sides.  Today, we’re thrilled to take over the remaining floors of our headquarters at 90 Fifth Ave. and create an extraordinary work environment for our staff and agents.”

Recently renovated, upgraded and reintroduced to the market by RFR, 90 Fifth Ave. is a 140,000-square-foot office building. Improvements at the building include a new lobby with site-specific art program, new elevator cabs, bathrooms and common areas, as well as upgraded building infrastructure and a new 2,500-square-foot landscaped terrace.

 

 

Copyright 2017. ALM Media Properties, LLC. All rights reserved.