OPEN Impact Real Estate LLC (OPEN) represented LUMA Partners LLC in a 7,080 s/f lease renewal for the investment bank’s headquarters at 101 Fifth Ave. in Manhattan.
Lindsay Ornstein, founder of OPEN, and Rory Murphy, partner at Transwestern Real Estate Services (TRS), jointly represented LUMA Partners in the transaction.
“We have intentionally custom-designed our office to create an environment that inspires creativity and best supports our team’s ability to provide strategic advice to optimize outcomes for our valued clients,” said Terence Kawaja, CEO and founder of LUMA Partners. “We are very pleased to have the opportunity to stay at 101 Fifth Ave. and capitalize on the current market climate.”
LUMA Partners, a leading investment bank focused on digital media and marketing, occupies the entire 9th floor of the 11-story building. Building ownership, Eretz Group, was represented in-house by Nick Mok.
“We have been working with LUMA Partners for many years and it’s rewarding to continue to support them in their latest transaction,” said Ornstein, founder of OPEN. “Eretz Group has been very accommodating and flexible throughout the process.”
According to research by Transwestern, the Flatiron submarket of Manhattan consists of 27 million square feet of office space and had a 19.2 percent availability rate as of Q2 2021.
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