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NEW YORK CITY - P/A Associates LLC, a real estate development firm, has leased part of the 11th floor of W&H Properties' 250 West 57th Street, announces Barry Zeller, executive director of Cushman & Wakefield, the building's managing and leasing agent.
The space, which contains 6,228 square feet, was created through a consolidation of seven separate office units.
"W&H has been implementing a space consolidation program at all of its nine properties," notes Mr. Zeller. "This transaction is an example of the program's success and its ability to attract discerning credit-worthy tenants who seek a quality product."
Founded by real estate veterans Aaron Malinksy and Paul Slayton, P/A Associates offers development capabilities across a broad spectrum of property types. The firm's portfolio encompasses urban development, industrial development and public storage. Projects include Fordham Place and River Plaza Shopping Center in the Bronx, Sherman Plaza in Manhattan and Pelham Manor Shopping Center in Pelham Manor, among others.
Justin Green of Hays Ventures LLC represented P/A Associates in the lease negotiations. Mr. Zeller represented the landlord.
An $82-million capital improvement program has recently concluded at 250 West 57th Street. The renovations include new windows, elevator cabs, upgraded building systems, refurbished air-conditioned public corridors, and a renovated lobby and concierge desk.
Space availability at 250 West 57th Street ranges from 1,700 square feet to a spectacular tower duplex of 20,328 rentable square feet that overlooks Central Park and has a private rooftop terrace.
250 West 57th Street also features the highly successful W&H pre-built program with spaces in move-in condition that have new ceilings, lighting, flooring and highly efficient space layouts.
Part of the W&H Properties portfolio, 250 West 57th Street is owned by Fisk Building Associates LLC, a partnership led by Peter L. Malkin.
Broker commissions are paid 100% upon lease signing.
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