July 25, 2023 9:00 AM
Newmark announces the firm has arranged a 21,222-square-foot renewal on behalf of Fujisankei Communications International, Inc. (“FCI”), the American arm of the Japanese media conglomerate Fujisankei Communications Group, for their existing space at the Princeton Properties-owned Tower 52 in Midtown, Manhattan. Newmark Vice Chairman Fred Smith represented the tenant on the lease transaction alongside Thomas Burrus.
“We, alongside ownership, feel gratified to have secured a valuable outcome with the renewal of this institutional-quality tenant ahead of their lease expiry,” said Smith. “Ownership’s long-term perspective and valued commitment to its credit tenants continues to bear fruitful, as evidenced by this latest transaction.”
Boasting a more than 30-year history as a tenant at Tower 52, FCI has reaffirmed its commitment to both ownership and the Class A office building with the renewal. Given the nature of FCI’s media conglomerate of television and radio, magazine, newspaper, record and video game companies, the tenant strategically occupies the top three floors of Tower 52 –providing a panoramic, landmark-filled backdrop while broadcasting.
Situated on the southern side of East 52nd Street between Lexington and Third Avenues, the 300,000-square-foot Class A glass tower is located in the desirable and established Plaza District of Manhattan. Designed by renowned architecture firm Fox & Fowle Architects, the sleek black glass and steel building features unobstructed panoramic views of the Manhattan skyline, landmarks and the East River.
Tower 52 also boasts sophisticated amenities such as a brand-new extended lobby with a glass cube entrance, waterfalls and a striking combination of stone, glass and wood finishes, 24/7 access and security, on-site property management, upgraded high-speed elevators and state-of-the-art fiber optics, voice and data. In addition, the building is introducing Lounge 52, a 5,000-square-foot luxury amenity center designed by Perkins Eastman, featuring 2,600 square feet of usable terrace space, a conference room that can accommodate more than 20 people, indoor and outdoor lounge areas and a custom-built pantry with a coffee station, bar and table seating.
On top of the building’s on-site offerings, Tower 52 benefits from unparalleled area amenities and convenient access to public transportation including MTA’s E, M and 6 subway lines.
About Princeton International Properties Corp.
Established in 1978, Princeton International Properties Corp. is a privately-owned, New York City-based property investment firm. Princeton is a tight-knit organization implementing all its management and leasing duties in-house. The Principals of the Company are involved in all aspects of the firm’s operations and deploy its own full-time construction team for property renovations and improvements, resulting in an efficient and streamlined enterprise.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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