New York & Tri-State + Midtown New York + Office | August 19, 2021

Investment Partnership Signs Lease with Vornado in Plaza District

JLL has completed a 6,476-square-foot, seven-year lease at Vornado Realty Trust’s 650 Madison Ave. in Midtown’s Plaza District on behalf of LTS One. The tenant is a new investment partnership between LTS Investments and Munib Islam, former co-CIO at Third Point LLC.

LTS One was represented by JLL vice chairman Alexander Chudnoff and associate VP Kristen Morgan. Vornado was represented by JLL vice chairmen Mitch Konsker, David Kleiner and Frank Doyle and executive managing director Daniel Turkewitz, alongside Vornado VP Jared Solomon.

LTS Investments is the holding company and investment office that oversees investments for 3G Capital cofounders Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira. “The space at 650 Madison was beautifully built and fully furnished, which meant that LTS One could get up and running very quickly, which was their main objective,” Morgan said.

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JLL’s Morgan

About Paul Bubny

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).

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