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SWA Group signs 5,789 sq ft lease at 381 Park Avenue South

The 10.5-year deal moves SWA from 31 West 27th Street to the building’s 12th floor, where asking rent averages $75 per square foot, Olmstead said.

Reported · Written up by our desk · Commercial

Architecture and design firm SWA Group has signed a 5,789-square-foot lease at Olmstead Properties’ 381 Park Avenue South in Midtown South, the landlord announced Tuesday.

The lease runs 10.5 years and will span part of the building’s 12th floor. SWA will relocate from 31 West 27th Street, and Olmstead noted that asking rent in the building averages $75 per square foot.

Olmstead also said On The Right Track Systems, backed by Riveria Investment Group, signed a new 4,157-square-foot lease on part of the 10th floor, relocating from 99 Park Avenue.

The company’s lease runs for seven years and six months. Olmstead said it has seen strong leasing momentum at 381 Park Avenue South and 373 Park Avenue South, bringing the two buildings to about 99,000 square feet of new office and retail leases in the past eight months.

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