Macerich Leases 12,000 Square Feet Office Space From Douglas Durst At 825 3rd Avenue

The lease transaction involved an office asset located at 825 3rd Avenue in Manhattan, featuring a lease term of 13 years. The asking rent for the property was $96 per square foot, with a total leased area of 12,000 square feet.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $96/ft
• Lease Term: 13 years
• Landlord: Douglas Durst - The Durst Organization
• Tenant: Jackson Hsieh - Macerich
• Landlord's Representatives: Tom Bow, Bailey Caliban & Ashlea Aaron - Durst Organization
• Tenant's Representatives: Gordon Ogden & James Hart - Bradford Allen

The transaction saw Jackson Hsieh of Macerich sign a lease, relocating the company's NYC office from 500 Fifth Avenue to the new site at 825 3rd Avenue, facilitated by representatives from both the landlord and tenant sides.