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NEW YORK CITY - ML Management Associates, Inc. (MLM), an entertainment business management firm whose clients are high-profile film and television personalities, has leased the entire 26th floor penthouse at 250 West 57th Street, announces Barry Zeller, executive vice president of Cushman & Wakefield, the building’s managing and leasing agent.
MLM, which is moving from 125 West 55th Street, was drawn to the 9,200-square-foot penthouse's 25-foot ceiling heights, dramatic skylights, and rooftop access, explains partner Paul Zukowsky: "It was the most unique space I could have dreamed of - a space that could become the antithesis of a standard CPA firm's office.
"Having a loft in Midtown is extremely rare," he continues. "The open and airy environment is great for our staff and fosters interoffice communication."
W&H created the penthouse space during comprehensive space consolidation and repositioning initiatives at the property, which recently underwent an $82-million upgrade program. "This is 250 West 57th Street's first full-floor deal in 30 years, and along with our recommendations and the landlord’s vision, these initiatives made it possible," says Mr. Zeller.
MLM was established in 1988 by Mark Landesman, Mr. Zukowsky's partner. The firm oversees both the financial and life management of its clients, who include well-known writers, directors, actors, producers, comedians and models, providing everything from tax and accounting services to advice on investments, mortgages, major purchases, insurance, and estate and succession planning.
Mitchell Arkin and Ethan Silverstein of Cushman & Wakefield represented MLM in the lease negotiations.
250 West 57th Street's recent upgrades include new windows, elevator cabs, air-conditioned public corridors, a renovated lobby and concierge desk, and improved building-wide systems.
Space availability at 250 West 57th Street ranges from 1,700 square feet to 10,100 square feet.
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 and Anthony E. Malkin.
Broker commissions are paid 100% upon lease signing.
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