Two companies have signed leases for 6,960 square feet (approximately 646 square metres) each at 757 Third Avenue in Midtown East. Yuco Management, a New York City-based real estate development and management company, will occupy the entire 27th floor of the 26-storey Class A office building, which is owned by New York Life Real Estate Investors. This is according to information from leasing broker JLL. Yuco will vacate its current offices at 200 Park Avenue to move to the new location.
Meanwhile, Elite, an artificial intelligence-based software company for legal services, has signed a lease for the entire 22nd floor of the property. For Elite, this appears to be its first New York City office, as its headquarters are in El Segundo, California.
Mark Weiss and Jenna Catalon of Cushman & Wakefield represented Yuco in the transaction, while Adam Ardise, Stephen Bellwood and Rachel Rosenfeld, also from C&W, brokered the deal for Elite. Brokers Mitchell Konsker, Clark Finney, Simon Landmann, Kristen Morgan and Lance Yasinsky from JLL represented the landlord in both tenancies. Mitchell Konsker of JLL stated that every building in today's market has its own story to tell. He emphasised that their task is to understand the evolution of tenant requirements and help the owner adapt their property to these changing expectations.
Strength of the Midtown Leasing Market
The recent activity at 757 Third Avenue reflects the strength of Midtown leasing fundamentals, the quality of the owner and the value tenants place on well-executed repositioning strategies, Konsker said. The exact term of the leases and the precise rental rates were not disclosed, but JLL indicated that rents in the office tower are in the upper $70s per square foot.
The leasing at 757 Third Avenue comes at a time when New York Life is investing in repositioning and reintroducing the property, after acquiring it from BGO through a deed-in-lieu of foreclosure sale in October 2025. New York Life “continues to enhance the property with planned cosmetic renovations to the lobby and the introduction of a new pre-built office programme designed to meet tenant demand,” according to JLL. Other tenants in the office building, located two blocks east of Grand Central Terminal, include real estate investment firm Wharton Equity Partners, which recently renewed its lease for 3,200 square feet on part of the 18th floor.
Other Prominent Tenants
- —Reinsurance broker BMS Group
- —Software company Endava
- —Berkley Insurance
- —Consulate General of Portugal
