JLL brings 99 Park Ave. to full occupancy as Southern Land Company inks new lease

NEW YORK, Jun. 10, 2025 – JLLannounced today that Southern Land Company has signed a 13,000-square-foot lease at 99 Park Ave., bringing the 600,000-square-foot Class A tower owned by Global Holdings Management to full occupancy.

Southern Land Company will relocate from 75 Rockefeller Center to occupy part of the 4th floor of the property. The transaction follows more than 300,000-square-feet of leasing completed over the past nine months as ownership commences a $30 million repositioning which includes a new double height, two-story Park Avenue lobby with a dramatic glass façade and lounge area, and a lower-level conference and amenity center with a state-of-the-art fitness center, duckpin bowling, a speakeasy-style lounge, golf simulator, and an on-site hairstylist and dry bar.

JLL serves as exclusive agent for 99 Park Ave., and a team led by Vice Chairman Paul Glickman, Senior Vice Presidents Diana Biasotti and Harrison Potter, and Executive Vice President Kristen Morgan worked with Global Holdings’ Senior Vice President Craig Panzirer and Director of Leasing Alex Radmin to arrange the lease. Southern Land was represented by Ben Bass, Vice Chairman, and Seth Godnick, Senior Vice President, at JLL.

Said Glickman, “99 Park Ave. is a prime example of Class A properties with strong, well-capitalized ownership committed to attracting tenants through long-term investment. It’s a premier asset in one of the city’s tightest submarkets, with extensive amenities and an ideal location. It has been rewarding to work closely with Global Holdings to position the building for success—attracting the right tenants through thoughtful strategy, market insight, and a focus on long-term value.”

Working with JLL and global architecture and interior design firm Vocon, Global Holdings is following the playbook from its repositioning of Nomad Tower at 1250 Broadway, one of the first buildings in the city to fully integrate amenities into the lobby and create a much more hospitality driven experience.

Panzirer commented, “When space became available on the second floor of 99 Park Ave., it enabled us to make the lobby double-height, flood it with light and set the tone for the entire experience at the property while elevating the market’s perception of the building.”

Rents at 99 Park Ave. have risen by 25% since the renovation was announced, reflecting the continued flight to quality that dominates Manhattan’s office leasing market, where the vast majority of leasing is concentrated in Trophy and Class A buildings, according to JLL Research. Of continued importance to tenants has also been identifying owners and buildings with the financial stability and resources to fund concessions, build interior spaces, make capital improvements and secure lender approvals.

New leases in the building include a recent deal with Amalgamated Bank, which took 94,000 square feet in a relocation from 275 Seventh Ave. Amalgamated will occupy the entire second, third, and fifth floors, as well as a portion of the ground floor to be used as a private entrance lobby.

Other recent deals at 99 Park Ave. include several transactions in which tenants expanded and extended their lease terms including Metropolitan Bank which expanded to 82,000 square feet, children’s clothing brand Garan which expanded to 73,000 square feet and investment firm Lubert Adler which expanded to 7,674 square feet, as well as a new lease with financial consultant Geller, which took 45,000 square feet on the 9th and 10th floors.

Located less than five minutes from Grand Central Terminal, 99 Park Ave. offers prime accessibility, including extensive rail options offered at Grand Central, proximity to Penn Station, and the Port Authority Bus Terminal. Its location in the heart of Midtown Manhattan also immerses tenants in the best of New York’s cultural and social assets and attractions as well as proximity to Bryant Park, one of the most popular green spaces in the city.

JLL is a leader in the New York tri-state commercial real estate market, with more than 4,800 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

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Global Holdings Management Group is an international alliance of real estate asset management and investment advisory companies operating across the United States, United Kingdom and Europe. We exclusively develop, advise and manage the real estate assets of Global Holdings Group – which was founded by its Chairman Eyal Ofer – across its residential, commercial and hotel portfolios in these geographies. The current portfolio we manage consists of over 10 million square feet of real estate, comprising over 120 properties and over 1,500 hotel rooms. We are proud to manage some of the most exciting real estate development projects in the world, creating extraordinary properties in iconic locations for tenants, customers and guests alike.