A major relocation of the 650,000-square-foot 5 Penn Plaza on Eighth Avenue between West 33rd and 34th Streets brings many 21st-century features to the historic building and adds more than 70,000 square feet of new The rental contract signed in
Built in 1916, this vintage building was originally designed for printing crafts, but more recently has included a second-floor amenity center called Print & Press, as well as a Gensler Architects-designed A two-story lobby and rooftop terrace for tenants were added.
The addition follows extensive renovations and infrastructure improvements by landlord 5 Penn Plaza LLC, a company led by investor Stephen Haymes.
The five new tenants are Noom, Inc.; A subscription-based health app. Altus Group, a real estate technology company. Octaura, an electronic trading advisory firm. environmental consultant Veolia and engineering services firm Dewberry.
Haymes said: “For more than a century, 5 Pen has been the corporate, communications and technology hub for some of the world's leading companies. We are thrilled to complete this best-in-class reinvention of this iconic asset.”
The 26-story building, located diagonally across from Madison Square Garden, is about 85% leased. Asking rent is $70 to $80.
All five new tenants will relocate to 5 Penn Plaza from nearby locations in Penn District and Manhattan West.
The landlord was represented in all leases by the JLL agency team of Mitchell Konsker, Kristen Morgan, Kristin Colley, Daniel Turkewitz, Greg Wang, and Kate Roush.
Tenants included teams from JLL, CBRE and Savills.
