Real IQ Leases Office Space At 253 Fifth Avenue In NoMad

Real IQ has signed a lease for an office space located at 253 Fifth Avenue in the NoMad market. The landlord, Gatsby Realty, was represented by Chris Okada & Hiro Iwata from Okada & Co. The lease deal was finalized on 08/06/2021, and the asking rent for the 3,250 square feet space was $42 per square foot.

Summary of transaction details

• Property Type: Office
• Transaction Amount: Lease
• Address: 253 Fifth Avenue
• Market: NoMad

Chris Okada and Hiro Iwata from Okada & Co. represented the landlord, Gatsby Realty, in the lease deal with Real IQ.

According to a note from @ChrisOkada, this lease brings the building to 100% occupancy, highlighting the positive momentum in the real estate market. The note also mentions the increase in investment sales, the surge in apartment rentals, and the resurgence of sales in NYC. The note further alludes to the changing dynamics in different sectors such as retail and the anticipation of future activity in office and hotel markets. The note ends on an optimistic note, emphasizing the opportunity that arises amidst fear and expressing the goal of reaching full occupancy in buildings repeatedly.