World Economic Forum USA Leases 58,131 Square Feet At 825 3rd Avenue In Midtown Manhattan

The property asset involved in this transaction is located at 825 3rd Avenue in Midtown Manhattan. It involves a leased office space with an asking rent of $83 per square foot and encompasses a total of 58,131 square feet. The lease agreement is for a term of 15 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $83/ft.
• Lease Term: 15 years
• Address: 825 3rd Avenue
• Market: Midtown Manhattan
• Landlord: Jody Durst - Durst Organization
• Tenant: World Economic Forum USA
• Landlord's Representatives: Thomas Bow, Ashlea Aaron, Bailey Caliban & Sayo Kamara - Durst Organization
• Tenant's Representatives: David Falk, Robert Silver, Scott Brown & Dylan Weisman - Newmark

This lease signals a significant collaboration between the World Economic Forum USA and the Durst Organization, with the negotiation facilitated by the representatives of both parties. The Durst Organization’s representatives played a crucial role in the leasing process, ensuring that the 15-year agreement met the needs of the tenant, supported by the efforts of Newmark’s team representing the World Economic Forum USA.