{"id":1004803307,"date":"2026-06-29T05:38:53","date_gmt":"2026-06-29T13:38:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004803307"},"modified":"2026-06-29T05:38:55","modified_gmt":"2026-06-29T13:38:55","slug":"commonfund-takes-entire-floor-at-midtown-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/commonfund-takes-entire-floor-at-midtown-office-tower\/","title":{"rendered":"Commonfund Takes Entire Floor at Midtown Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/825-Third-Hero.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004803313\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/commonfund-takes-entire-floor-at-midtown-office-tower\/lightened-bottom-section-of-the-825-hero-rendering-march-13-2020\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/825-Third-Hero-e1782734094380.jpg\" data-orig-size=\"3210,2410\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Lightened bottom section of the 825 Hero rendering March 13, 2020&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Lightened bottom section of the 825 Hero rendering March 13, 2020&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Lightened bottom section of the 825 Hero rendering March 13, 2020\" data-image-description=\"&lt;p&gt;Rendering courtesy of The Durst Organization, attached to the press release. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Aerial shot of the 40-story office building at 825 Third Ave., in Midtown East.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/825-Third-Hero-e1782734094380.jpg?w=1024\" height=\"1024\" width=\"549\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/825-Third-Hero.jpg?w=549\" alt=\"Aerial rendering of the 40-story office building at 825 Third Ave., in Midtown East.\" class=\"wp-image-1004803313\" style=\"width:300px\"\/><\/a><figcaption class=\"wp-element-caption\">The office high-rise at 825 Third Ave. has recently undergone a renovation program. <em>Rendering courtesy of The Durst Organization<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Asset management firm Commonfund has relocated its New York City office from Park Avenue to The Durst Organization\u2019s 825 Third Ave., in Manhattan\u2019s Midtown East. The tenant\u2019s 11,816-square-foot lease encompasses the entire 22nd floor at the 566,895-square-foot property.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield worked on behalf of the tenant, while the ownership was represented in-house.<\/p>\n\n\n\n<p>The asset management firm will join Toyota Tsusho America Inc., Edward Jones, Allied Irish Banks, Tokio Marine Group, Dimension Energy, Beveridge &amp; Diamond, Gotham Asset Management, National Bank of Egypt, Macerich, Hodes Weill &amp; Associates, and Stark Office Suites at the building.<\/p>\n\n\n\n<p>Completed in 1969 between E. 50th and 51st streets, the office building rises 40 stories ranging between 10,750 and 18,800 square feet. The LEED Gold-certified high-rise has recently undergone a $150 million renovation program, which resulted in a new entrance and lobby, 4,000 square feet of public open space and a tenant-exclusive, indoor-outdoor amenity space dubbed Well&amp; by Durst.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/whats-driving-corporate-office-moves\/\">Corporate office relocations<\/a> are increasingly driven by the prioritization of amenities and hybrid work environments. Rather than simply looking for more space, office tenants prefer Class A properties that feature upgraded collaboration areas, making renovated legacy buildings especially competitive across the market.<\/p>\n\n\n\n<p>The Durst Organization was represented in-house by Executive Vice President Tom Bow, Senior Managing Director Ashlea Aaron and Associate Directors Bailey Caliban and Sayo Kamara. Cushman &amp; Wakefield Vice Chairman David Rosenbloom and Executive Director Steven Baker worked on behalf of Commonfund in securing the lease deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-manhattan-s-streak-remains-unshakable\">Manhattan&#8217;s streak remains unshakable<\/h2>\n\n\n\n<p>As of May, Manhattan&#8217;s average office listing rate clocked in at $69.29 per square foot, marking a 1.8 percent increase on a 12-month basis, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/falling-office-vacancy-contrasts-with-rising-distress\/\">Yardi Matrix office report<\/a>, significantly higher than the figures recorded by Miami ($58.41 per square foot) and the Bay Area ($55.68 per square foot), which ranked second and third nationwide. During the same month, the borough&#8217;s average office vacancy rate dropped to 13.1 percent, down 260 basis points on a trailing 12-month basis.<\/p>\n\n\n\n<p>Noteworthy leasing deals in Manhattan this month include law firm McDermott Will &amp; Schulte&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/bxp-inks-law-firm-to-150-ksf-lease-at-nyc-trophy-tower\/\">150,000-square-foot lease<\/a> at BXP\u2019s 343 Madison Ave., a 46-story office tower in Midtown Manhattan. Similarly, Harbor Group International signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/law-firm-inks-170-ksf-lease-at-manhattan-trophy-tower\/\">15-year lease with law firm Alston &amp; Bird<\/a> for nearly 170,000 square feet at 51 W. 52nd\u00a0St., also in Midtown Manhattan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant will occupy the entire 22nd floor.<\/p>\n","protected":false},"author":3619,"featured_media":1004803313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[34908,33492],"class_list":["post-1004803307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefeld","tag-the-durst-organization"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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