Fisher Brothers Signs 95 KSF Expansion in Manhattan

Fisher Brothers has signed a 95,000-square-foot lease expansion at Park Avenue Plaza a 1.2 million square-foot office tower in Manhattan’s Plaza District. Tenant Evercore expanded its presence and now occupies more than 500,000 square feet across several floors.

Owner Fisher Brothers self-represented in the lease deal, while Colliers negotiated the expansion on behalf of the tenant.

Other tenants at the 45-story office building include General Atlantic, Morgan Stanley, BBR Partners and Jennison Associates, CommercialEdge shows. The office tower is fully occupied.

Park Avenue Plaza is at 55 E. 52nd St. and features 45,000-square-foot floor plates, 25 passenger elevators and 12,000 square feet of ground-level retail space, the same source shows. The property went through renovations in 2015 and now includes green technology and sustainability features alongside other amenities. The office tower received LEED Platinum and WELL Health-Safety Rating certifications, with ownership in the process of also obtaining Energy Star certification.

The skyscraper is close to several public transit options and its Midtown position allows for quick access to major points of interest across the metro, such as the Financial District, Upper Manhattan, Brooklyn and JFK International Airport.

Fisher Brothers’ team of Managing Director Marc Packman, Senior Director Clark Briffel, Director Charles Laginestra and Assistant Director of Leasing Josh Fisher led negotiations on behalf of the landlord. Colliers’ Vice Chairman Alan Desino worked on behalf of Evercore.

Significant deals at the company’s Manhattan assets

Fisher Brothers recently experienced strong leasing activity across its office portfolio. In late December, the company signed the largest commercial lease in 2023 at 1345 Avenue of the Americas, with law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP signing a 765,000-square-foot, 20-year commitment.

The owner worked together with institutional investors advised by J.P. Morgan Global Alternatives in securing the leasing agreement, while also implementing a $120 million capital improvement program at the property. In June 2023, the owner signed a 41,613-square-foot sublease with full-service law firm Greenspoon Marder LLP.