Brokerage will spearhead leasing efforts for building in Penn Station submarket

NEW YORK, NY – Avison Young has been appointed as the exclusive leasing agent for 240 West 35^th Street, a 165,000-square-foot (sf), seventeen story, fully-renovated office building centrally located within Manhattan’s bustling Penn Station neighborhood.

The Avison Young team will be led by Todd Korren, Principal, who will handle leasing efforts on behalf of building ownership, a partnership between The Migdal Group, one of Israel’s largest insurance and investment companies, and ATCO Properties.

“We’re thrilled to partner with Migdal and ATCO to spearhead the leasing initiatives for this prime building as its exclusive leasing agent,” said Korren. “The recent $20+ million renovation includes a complete façade restoration, modern entrance and lobby, upgraded elevators, updated HVAC and electrical systems, refreshed restrooms and thoughtfully constructed tenant spaces.”

“The floor plates range from 5,300 to 11,500-rsf which makes the building ideal for a variety of tenants due to its side-core floorplate configuration and offers maximum flexibility for tenants in virtually any industry,” added Korren.

Avison Young’s extensive understanding of the Penn Station submarket, strong recognition within the brokerage community and significant leasing success during the last 24 months aided in the owner’s decision. The firm will execute a targeted tenant outreach strategy built on the team’s leasing and asset management experience that will highlight the virtues of occupying space within the building to a broad audience of brokers and tenants.

“240 West 35^th sits directly within most commuters’ sweet spots, providing a one stop commute and easy walking distance between Grand Central, Penn Station, and the Port Authority,” said Damon Hemmerdinger, co-President of ATCO Properties. “Given Avison Young’s track record with this asset class and their success through various market cycles, we’re confident in their success.”