AI-Native Platform Inks 20 KSF Manhattan Lease
The building is currently 70 percent leased.
Agentio, an AI-native platform for Creative Advertising, has signed a 20,000-square-foot lease at 295 Fifth Ave., a 710,074-square-foot office building in Midtown South Manhattan. CBRE arranged the deal on behalf of the tenant as well as the the ownership, namely Tribeca Investment Group, PGIM and Meadow Partners.
The property has been under this ownership since 2019, when the partnership paid $375 million—or $528 per square foot—to acquire it from Manhattan Properties, Yardi Matrix data shows.
READ ALSO: Office Real Estate Trends
CBRE Senior Vice President Alex Leopold arranged the lease deal on behalf of Agentio. CBRE’s CEO of the New York Tri-State Region Mary Ann Tighe, Vice Chairmen David Hollander and Peter Turchin, Senior Vice President Brett Shannon, together with First Vice Presidents Liz Lash and Hayden Pascal represented the ownership in the transaction.
A closer look at 295 Fifth Ave.
Originally built in 1920 and completely renovated in 2022, 295 Fifth Ave. features floorplates ranging between 17,925 and 43,887 square feet across 18 stories. The ownership has recently completed capital improvements at the mid-rise, delivering a new conference center on the ground floor and a fitness facility.
Agentio will join Quinn Emanuel Urquhart & Sullivan, Octus and Concord Global Trading in the tenant roster. Since the deal, the office building is 70 percent leased. The property is two blocks south of Empire State Building and equidistant between Grammercy and Bryant parks.
Manhattan office rates soar, vacancy drops
As of February, Manhattan’s average office listing rates climbed 6.6 percent year-over-year to $73.45 per square foot, according to the latest Yardi Matrix report. During the same month, the borough’s vacancy rate registered a sharp 330-basis-point drop on a trailing 12-month basis to 13.1 percent, unrivaled by any other metro across the U.S.
Nationwide, February saw average office listing rates clock in at $32.79 per square foot, up 24 cents month-over-month but down 1.9 percent compared to February 2025. The average vacancy rate stood at 17.6 percent, down 200 basis points year-over-year.
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