Berkley Insurance Renewal Seen as Bellwether for Midtown
In what’s seen as a bellwether of recovery for Midtown Manhattan’s office leasing market, BentallGreenOak has renewed Berkley Insurance Company’s lease at 757 Third Ave., a 504,953-square-foot office Midtown East building. Berkley will continue occupying 60,000 square feet under an eight-year lease in the building that it has called home since 2014.
The renewal is only the second deal exceeding 60,000 square feet signed on Third Avenue this year. “This renewal is further confirmation of a strengthening office market bolstered by landlords’ commitment to the health and wellness of their tenants through expanded amenity offerings,” said JLL executive managing director Clark Finney. “Berkley Insurance’s commitment demonstrates New York City’s continued appeal as a home for the world’s leading corporations.”
Finney negotiated the deal for BentallGreenOak with JLL vice chairman Mitchell L. Konsker, eClark Finney, EVP Simon Landmann and associate Lance Yaskinsky. Tim Gibson, executive managing director at Newmark, represented Berkley.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).