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new chapter unfolds for Ferrari's iconic prancing horse as it prepares to relocate from its current showroom at 410 Park Avenue to a prime spot across the street at 425 Park Avenue. This strategic move is more than just a change of address; it marks a significant milestone in L&L Holding Co.'s remarkable leasing feat, with their 670,000 square foot tower now boasting 100% occupancy in under three years.

    The sleek and modern design of 425 Park Avenue, crafted by Foster + Partners, has proven to be a magnet for top-tier tenants. Ken Griffin's Citadel anchors the office space with an impressive 440,000 square feet, while Jean-Georges Vongerichten's restaurant Four Twenty Five set the tone as the first retail tenant. Ferrari's new ground-floor showroom will benefit from unparalleled visibility and prestige, thanks to its prime location and stunning architecture.

    According to L&L Holding Co.'s chairman and CEO David W. Levinson, this move is a testament to the tower's enduring appeal: "Ferrari wanted to make a strong marketing statement, and we're proud to offer them the best showroom in North America." The corner space boasts floor-to-ceiling glass 45 feet high, offering an unobstructed view of the city. Ferrari President Matteo Torre expressed his excitement about starting this new chapter in their New York City presence.

    Meanwhile, Apollo Global Management has sealed a deal for 100,000 square feet at 590 Madison Avenue, bringing the tower's occupancy rate to 87%. This growth move marks a significant shift for Apollo, which was previously subleasing under 72,000 square feet at 3 Bryant Park. The landlord, Edward J. Minskoff Equities, has seen a notable increase in leasing activity since the departures of IBM and two other tenants two years ago.