Convene Inks Its Largest Lease Yet—116K SF—at 530 Fifth Avenue

By Rebecca Baird-Remba, Commercial Observer The office space provider signed an 11-year, 116,000-square-foot lease for the seventh through 10th floors of the 26-story building. The space at the 536,000-square-foot property between West 44th and West 45th Streets will be the first Midtown Convene Workplace location, which “provides fully serviced workspaces for entrepreneurial organizations and enterprise teams from 10 to 100 employees,” according to the release about the deal. The offering allows tenants to take leases with terms ranging from 12 to 36 months, and the Fifth Avenue location will include event progra [...]

The RXR platform manages 69 commercial real estate properties and investments with an aggregate gross asset value of approximately $18.1 billion, comprising approximately 24.6 million square feet of commercial properties, inclusive of a multi-family residential portfolio of approximately 2,600 units under operation or development, and control of development rights for an additional approximately 3,600 multi-family and for sale units in the New York Metropolitan area. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.