|
NEW YORK CITY - ABS, a leading global shipping classification society, has leased the entire 42nd floor of nearly 13,000 square feet at W&H Properties’ 60 East 42nd Street, announces Fred C. Posniak, senior vice president of W&H Properties.
ABS relocated to the property from Paramus, New Jersey, where it was based after 9/11. Previously, the firm had occupied the 91st floor in the North Tower of the World Trade Center.
"It means a lot to us that ABS chose 60 East 42nd Street for its return to Manhattan," says Mr. Posniak. "We're delighted that we could offer the firm an efficient space in a prestigious and convenient location, with financially strong ownership to help make the deal happen."
Founded in 1862, ABS is a leading international classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities. The firm is headquartered in Houston with regional offices in London and Singapore, and it has a network of local representative offices in 70 countries.
Robin Fisher and Frank Recine of Newmark Knight Frank represented ABS in the lease negotiations. The landlord's representatives were Billy Cohen, Ryan Kass and Jonathan Fanuzzi, also of Newmark Knight Frank.
60 East 42nd Street, with 55 stories, is one of the most prestigious addresses in the Grand Central District. It offers direct underground access to Grand Central Terminal, as well as to the 4, 5, 6, 7 and Times Square shuttle subway lines.
The property recently underwent an $85-million upgrade program that included new windows, renovated elevators, renovated air-conditioned public corridors and bathrooms, and upgraded building-wide systems. The building also features a visitors' center, a tenant conference center, messenger center and a law library.
Part of the W&H Properties portfolio, 60 East 42nd Street is owned by Lincoln Building Associates, L.L.C., a partnership led by Peter L. Malkin and Anthony E. Malkin. "The building has been under the same solid ownership for over half a century, which gives it the financial stability that is one of its most attractive features," says Mr. Posniak.
Available space at 60 East 42nd Street ranges from high-end pre-built spaces of 2,300 to 4,785 square feet available for immediate occupancy to full floors of 9,500 to 47,589 square feet.
Broker commissions are paid in full at lease signing.
|
