The architecture and design firm SWA Group has signed a lease for 5,789 square feet at 381 Park Avenue South, an Olmstead Properties building in Midtown South. This was announced by the landlord on Tuesday. The 10.5-year lease for the internationally active landscape architecture, planning, and urban design firm covers a portion of the building's 12th floor. SWA Group will relocate from 31 West 27th Street.
The exact asking rent was not disclosed, but Olmstead Properties noted that the average asking rent in the building is $75 per square foot. SWA Group was represented by Janet Liff of J. Liff Co., while Steve Marvin and Jonathan Bock of Olmstead Properties represented the owners in this transaction.
Olmstead Properties also announced on the same Tuesday that On The Right Track Systems, a provider of health products and the backbone of Riveria Investment Group, also signed a new lease for 4,157 square feet on part of the 10th floor at 381 Park Avenue South. The company, which specialises in proprietary hospital privacy curtains and tracking systems for the healthcare sector, is moving from 99 Park Avenue. Riveria had invested in this provider in February 2025. This lease has a term of seven and a half years.
In this instance too, Olmstead's Marvin and Bock represented the owners. The tenant was advised by Arash Sadighi and Tyler Ruggieri of Venture Commercial NYC, as well as Alan Rosinsky of Metro Manhattan Office Space. Olmstead Properties notes strong letting momentum at 381 Park Avenue South and 373 Park Avenue South, with the two properties securing approximately 99,000 square feet of new office and retail leases over the past eight months.
- —SWA Group: 5,789 sq ft at 381 Park Avenue South, 10.5-year term.
- —On The Right Track Systems: 4,157 sq ft at 381 Park Avenue South, 7.5-year term.
- —Stout NYC: 13,900 sq ft on the ground floor of 373 Park Avenue South (May).
Steve Marvin commented on the current developments in a statement: “Companies continue to respond to thoughtfully designed, ready-to-occupy suites, upgraded common areas, and an ownership team that acts swiftly. With further transactions in the pipeline, we look forward to the continued momentum at both locations.”
