Real Estate
Home›Real Estate›Commercial›OceanSound leases 32,032 SF across floors at SL Green’…
OceanSound leases 32,032 SF across floors at SL Green’s 450 Park Ave
The five-year lease adds more than 10,000 square feet beyond OceanSound’s prior sublease, while SL Green cited recent renovations aimed at attracting tenants seeking upscale amenities.
New York-based private equity group OceanSound Partners has expanded its footprint at SL Green Realty’s 450 Park Avenue office tower in Midtown, securing a new five-year lease for 32,032 square feet, according to Commercial Observer. The additional space covers the full eighth, 22nd, and 23rd floors at the corner of Park Avenue and East 57th Street. OceanSound previously subleased 21,640 square feet across the 22nd and 23rd floors, the outlet reported. SL Green said its recent renovation work inside the building has helped attract tenants looking for upscale amenities at a luxury location. While the exact rent terms were not disclosed, Commercial Observer noted the asking rent in the building was $170 per square foot as of March. The office tower was acquired by SL Green in April 2022 for $445 million from Oxford Properties and Crown Acquisitions. OceanSound’s lease negotiations involved Savills as its representative and CBRE on behalf of SL Green, and the building also includes tenants such as Banco Bradesco, Blue Crest Capital Management, Willow Tree Credit Partners, and Garnett Station Partners, the report added.