NEW YORK CITY - Jonathan Fales, first vice president at CB Richard Ellis, has been appointed leasing director at W&H Properties' 501 Seventh Avenue, announces Fred C. Posniak of W&H.
In his new role, Mr. Fales serves as the leasing representative for the building and the W&H brand. His responsibilities include liaising with brokers and tenants, and negotiating leases, renewals and expansions.
"It's an exciting time in the history of the building," notes Mr. Fales. "For the first time in several years, there is a large block of 60,000 square feet becoming available on the eighth and ninth floors of the building. I'm eager to get the word out about this outstanding opportunity."
Mr. Fales, who resides in Manhattan with his wife and two-year-old daughter, has worked for CB Richard Ellis and its predecessors (Insignia and ESG) since 1997. He received a bachelor's degree in economics from James Madison University in Harrisonburg, Virginia.
"Jon is highly respected by tenants and brokers alike," says Mr. Posniak. "We're pleased to welcome him to the W&H team."
501 Seventh Avenue is the recipient of two BOMA/NY Pinnacle Awards: Operating Office Building of the Year in 2007 and Renovated Building of the Year in 2006. A $54-million upgrade program that led to the latter included the installation of a state-of-the-art air conditioning system, new electrical and security systems, new elevators, corridors, bathrooms and windows, and a fully renovated lobby. Through this program, 501 Seventh Avenue was transformed into a modern building, catering to a mix of traditional fashion tenants and office users, with Class-A amenities and technological capabilities.
Located at West 37th Street, 501 Seventh Avenue comprises approximately 500,000 square feet. The building offers convenient access to 11 subway lines. Access to Amtrak, the Long Island Railroad and New Jersey Transit is also available at Penn Station, one block away.
501 Seventh Avenue is owned by 501 Seventh Avenue Associates LLC, a partnership led by Peter L. Malkin and Anthony E. Malkin.
Broker commissions are paid 100 percent on signing.
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