The Actors Fund Expands at 729 Seventh Avenue; Extends Lease to 2030

Himmel + Meringoff announced today that The Actors Fund of America has expanded at 729 Seventh Avenue, increasing its office space by 50 percent from 22,400 square feet to 33,600 square feet. With the addition announced today, the organization will remain at the building into 2030.

Founded in 1882, The Actors Fund is a national human services organization serving thousands of professionals in film, theater, music, opera, radio and dance. Its wide array of programs and services include housing, senior care, education and career counseling, health care assistance and emergency financial aid, providing a safety net to those in need.

The transaction announced today further solidifies the boutique office building's position as the location of choice for tenants in New York City's creative and entertainment industries. Playbill, Inc. recently inked a 10-year full-floor lease at the property, while tenants also include Key Brand Entertainment (Broadway.com) and the Broadway League as well as others in the media and entertainment industries.

Two contiguous full floors totaling nearly 45,000 will be available in the fall. A new visually striking lobby renovation and entrance of the property, designed by Dan Shannon of award-winning MdeAs Architects, will be completed in the fall of 2016. It will feature a dramatic new double-height entrance highlighted by 20-foot ceilings and walls dressed in Italian Carrara marble and glass finishes. At the same time commissioned lobby artwork will pay homage to the building's 100+ year history as the home of high-profile tenants most notably in the cinema and theatrical industries. Among them was the former headquarters of United Artists, led by Douglas Fairbanks, Mary Pickford, Charles Chaplin and D.W. Griffith.

"We are very pleased to be able to accommodate The Actor's Fund's expansion needs," said Leslie Himmel, principal of Himmel + Meringoff. "We look forward to having them continue as one of the building's primary tenants."

She continued, "729 Seventh Avenue is strategically positioned in Midtown West in one of New York City's most vibrant office locations, near Avenue of the Americas and Rockefeller Center while also steps from the new Edition hotel/entertainment complex and the planned redevelopment of the DoubleTree/Palace Theatre site. We and our tenants will certainly benefit from this dynamic neighborhood."

David Lebenstein of Cushman & Wakefield represented The Actors Fund, while Jason Vacker and David Cohen represented the building's ownership in-house.

New York City-based Himmel + Meringoff Properties' (www.hmprop.com) operate one of the largest privately owned portfolios in Manhattan. The company's long-term investment strategy is based on successfully identifying and evaluating well-located but under-performing properties, and structuring complex transactions that are often highly customized to meet the disposition objectives of the property's owners. H + M's approach to acquisitions includes joint ventures, net leases with options to buy and partial sale-leasebacks. The company has a 35-year track record of financial success in creating value through repositioning, renovating, re-tenanting and adaptive reuse using strategic capital infusion and vertically integrated in-house management.