Arbiter Partners Capital Management Renews Office Lease At 530 5th Avenue Manhattan For $80/SF

The property involved in this transaction is an office asset located at 530 5th Avenue in Manhattan. The office lease comprises a total area of 7,803 square feet with an asking rent of $80 per square foot.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $624,240
• Address: 530 5th Avenue
• Market: Manhattan
• Landlord: William Elder & Scott Rechler - RXR
• Tenant: Paul J Isaac - Arbiter Partners Capital Management
• Landlord's Representative: Andrew Ackerman & Walter Rooney - RXR Realty
• Tenant's Representative: David Emden & Robert Emden - Newmark

This deal involved Arbiter Partners Capital Management renewing their lease for six years, indicating a commitment to the space at the specified rental rate. The transaction highlights the involvement of broker representatives from both sides, with RXR Realty representing the landlord and Newmark representing the tenant.