September 30, 2022
  • September 30, 2022

Real Estate Company LCOR Remains On-Site in 1 Penn – Trade Observer

By on July 26, 2022 0

Real estate investment and development company LCOR stay put Vornado Real Estate Trustit is 1 Penn Plazalearned Commercial Observer.

LCOR has extended its 7,454 square foot lease for 10 years and nine months on the building’s 18th floor, according to its broker, Lance Helmsley. The developer, which has properties in DC, Philadelphia, Florida and the tri-state area, has been in the building since 1997. A spokesperson for Helmsley Spear declined to provide asking rent for the lease.

Helmsley Spear Fernando Murillo and James Emden represented the LCOR. Josh Glick, Jared Solomon and Anthony Cugini handled it for Vornado internally. A Vornado spokesperson did not immediately return a request for comment.

Kent SwigChairman of Helmsley Spear, said the renewal will allow LCOR to “serve its global customer base from state-of-the-art commercial office space” in a prime Midtown neighborhood.

The 57-story 1 Penn Plaza is undergoing a major renovation that includes a new lobby, facade updates and a new three-story amenity center with a restaurant, take-out dining options, a fitness center, lounges and conference rooms.

Rebecca Baird-Remba can be reached at [email protected].

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