1370 Avenue of the Americas
Investment firm Pharo Management will more than double its office space and take the entire 10,776-square-foot 26th floor at 1370 Avenue of the Americas for 10 years. Newmark Knight Frank team Brian Goldman and John Moran III shepherded the company through the deal, which involved relocating two other tenants to different floors in the 34-story Plaza district tower and finding temporary space during construction on the new space.
“This was a very unique transaction because of the moving pieces, which required a great deal of cooperation among the various parties,” Mr. Goldman said in a statement.
Added Mr. Moran: “It’s a great opportunity to obtain full-floor presence and increase visibility, which was important, while allowing Pharo to maintain its desired location and Central Park views. The timing of this transaction was ideal.”
Messrs. Goldman and Moran also represented Pharo Management in its previous lease at the 1370 Avenue of the Americas. Paul Amrich and Fernando Urrutia of CB Richard Ellis represented landlord The Principal Financial Group.