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This Summer, SKP Moving HQ to 1675 Broadway

Global Accountants Will Lease an Entire Floor Spanning 27,000 SF at the Rudin Family-Held Property
November 29, 2017
Spielman Koenigsberg & Parker LLP (SKP), a global accounting services and financial consulting firm, has signed a 15-year lease to occupy 27,000 square feet at 1675 Broadway in New York City.

The firm will take occupancy of its full-floor space in June 2018. Rudin Management Company Senior Vice President Robert Steinman tells CoStar News that the company is building out the 20th floor for SKP. Rudin Management is the leasing and management arm for the Rudin Family, which owns 16 New York City office buildings totaling 10 million square feet of space.

Until then, SKP’s headquarters will remain at 1745 Broadway, where it has been subletting space formerly occupied by Random House for seven years.

"We are not surprised that the firm opted to remain in this Midtown West district when it came time to choose a new home," says Bill Rudin, co-chairman and CEO of Rudin Management Company, citing the area’s "broad array" of entertainment and dining options as well as its transportation connectivity.

1675 Broadway is a 35-story, 4-Star office tower comprising 761,092 square feet. The COOKFOX Architects-designed office tower was built in 1989. From its location within the Columbus Circle submarket at the corner of Broadway and W. 52nd St., tenants can access the B, D and E lines from 7th Avenue and the N, Q, R and W lines from 57th Street with connections to the Second Avenue subway.

The lease with SKP tops off more than 700,000 square feet of long-term direct, renewal and expansion agreements at the building over the past three years, according to Rudin Management Company. Recently-signed leases at the building include two separate agreements for 27,000 square feet with legal firms Ballard Spahr and Roberts, and Holland LLP.

Steinmann adds, "1675 has a wonderful, virtually column-free floorplate with a center core that allows for many windowed exterior offices and up to 10 or 12 corner offices per floor. It has excellent Midtown views and views of the Hudson River from the west side of the building."

Rudin has recently modernized the elevator systems and installed destination dispatch in addition to adding a seating area in the lobby designed by Aero Studios.

Just over 181,000 square feet of space is available for lease in the building. Of that, Rudin is marketing a 100,000-square-foot block of space spanning five floors at the top of the building, including the 31st through 35th. The block is coming available in June 2018, and Rudin Management will be asking $85 per square foot, according to Steinman. Immediately available space on the 18th and 21st floors is priced at an asking rent of $75 per square foot, he adds.

Howard Tenenbaum and Gary Rosen with SL Green Realty Corp. represented SPK in the lease negotiations. Robert Steinman and Thomas Keating with Rudin Management represented building ownership in-house.

The Rudin Family’s New York City portfolio ranks among the largest privately owned commercial and residential property portfolios in New York City. In addition to the 16 office assets held, Rudin owns 18 apartment buildings totaling more than 4 million square feet. The Rudin Family is currently working with Boston Properties to develop the Dock 72 office tower at the Brooklyn Navy Yards.

Diana Bell, New York City Market Reporter  CoStar Group   
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