NEW YORK, NY – January 23, 2020 – Denham Wolf Real Estate Services, Avison Young, and their clients today announced that The Harry Frank Guggenheim Foundation (the Foundation) will relocate its headquarters to Tower 45 at 120 West 45th Street. Recently renovated and conveniently located in Midtown Manhattan, the Foundation’s new offices will provide its staff and partners with dedicated, high-quality facilities and expanded amenities.
Established in 1929, The Harry Frank Guggenheim Foundation is a leader in creating and disseminating knowledge on violence in its many forms, including war, crime, and human aggression. The Foundation’s research and programs aim to enhance understanding of the nature, consequences, and responses to both pressing and enduring issues of violence in the United States and around the globe.
The Foundation has signed a 12-year lease for 5,787 square feet of turnkey space on the 25th floor of 120 West 45th Street, a 460,000-square-foot office tower in the heart of Midtown Manhattan. In the summer of 2020, the Foundation will relocate to Tower 45 from its current offices within the Museum of Modern Art’s building at 42 West 54th Street.
In searching for a new administrative home, the Foundation wished to maintain its desirable geography, ensure streamlined building access for grant recipients, and maintain a highly professional and welcoming atmosphere. As with the majority of New York City-based nonprofits, cost control was also a factor in the Foundation’s decision-making about real estate.
“Tower 45’s ample natural light, virtually column-free design, upgraded amenities, and professional building management team will serve The Harry Frank Guggenheim Foundation well,” shared Christopher D. Turner, the Director of Transaction Services for Denham Wolf. “I am so pleased that we were able to secure a new home that is financially, physically, and organizationally beneficial for the Foundation.”
The Harry Frank Guggenheim Foundation was represented in the transaction by Paul G. Wolf, Christopher D. Turner, and Avery Hogue of Denham Wolf, a real estate services firm that represents and advocates for local nonprofits. The building owner, Kamber Management Company, was represented by an Avison Young team including Arthur J. Mirante II, Principal and Tri-State President, Mitti Liebersohn, President and Managing Director, John Ryan III, Principal, and Albert Wu, Director.
Kamber Management Company, under the leadership of Steven Levy, acquired 120 West 45th Street in September 2015. Since taking ownership of the property, Kamber Management has invested in a multi-million dollar capital improvement program focused on building infrastructure and reimagining common areas, as well as a reimagined atrium and lobby. The office building has customized pre-built suite spaces ranging from 1,500 to 6,500 square feet, as well as full floors of approximately 10,000 to 13,000 square feet, which are also available.
About Denham Wolf Real Estate Services
An essential resource for New York City’s nonprofit community, Denham Wolf Real Estate Services provides expertise in transactions, development, and project management. Through these integrated services, the firm empowers organizations to take a thoughtful, mission-first approach to real estate. Denham Wolf has partnered with hundreds of diverse nonprofit organizations since its founding in 1998, shaping millions of square feet across New York City.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors. www.avisonyoung.com