Monday, March 01, 2010

Leucadia holding over at 315 Park Ave. South

BCN Development, the award-winning developer of high-end, mixed-use, luxury properties, announced that it has secured lease commitments from the holding company, Leucadia National Corporation, for over 32,000 s/f of office space through 2017 at its New York City flagship property, 315 Park Avenue South.

The deal is valued close to $25,000,000.

Craig Nassi, CEO of BCN Development, welcomed the news. "It is a pleasure to be able to continue our relationship with one of New York City's fastest-growing companies," Nassi said.

Leucadia National Corporation has been ranked at number 14 on the strength of a 2006 net income of $186 million on revenue of $827.8 million and a share price appreciation of 119.1%

"I am delighted that Leucadia recognizes the desirability of 315 Park Avenue South as the location to continue to grow their business."

The 340,000 s/f 315 Park Ave. is also headquarters to Credit Suisse. The property has a just renovated 50-year-old lobby with a $1-million detailed finish.

BCN just signed a lease with Phoenix Partners Group for more than 16,400 s/f in the building a lease valued at approximately $13 million.

"Leucadia holding over at 315 Park Ave. South". Real Estate Weekly.

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