Stark Office Suites, through its Excelsior brand, has leased 17,300 square feet of office space at 717 Fifth Avenue in Manhattan’s Plaza District. The long-term lease encompasses the 13th and 14th floors of the recently renovated building. Savills, with senior managing director Craig Lemle and vice chairman Roi Shleifer leading the representation, brokered the deal.
Expanding Footprint in Manhattan
Excelsior is positioned as Stark’s premium office solution, catering to professionals including family offices, CEOs, and boutique investment firms. The brand emphasizes a contemporary environment with superior amenities and service. This move follows a successful 2024 launch at 825 Third Avenue, which reportedly exceeded expectations.
The Plaza District location offers tenants views of Central Park and opportunities for building branding. Upgrades include renovated elevators and corridors, as well as a high-end tenant lounge and conference center. The building’s location is surrounded by high-end retail, restaurants, and hotels.
A Growing Partnership
According to Craig Lemle, this transaction highlights a five-year partnership between Savills and Stark Office Suites, with Savills having supported Stark on three major Manhattan leases during that time. Adam Stark, president of Stark Office Suites, stated the lease allows the company to expand into a prestigious New York City submarket.
CBRE represented the building’s landlord in the transaction.
Frequently Asked Questions
What is the Excelsior brand?
Excelsior represents Stark Office Suites’ elevated brand, offering a premium, contemporary office environment with superior amenities and service designed for discerning professionals.
Where is 717 Fifth Avenue located?
717 Fifth Avenue is located in Manhattan’s Plaza District, within proximity to Central Park.
Who represented Stark Office Suites in this lease?
Savills, with senior managing director Craig Lemle and vice chairman Roi Shleifer, represented Stark Office Suites in the lease at 717 Fifth Avenue.
As Stark Office Suites continues to grow its Excelsior brand, it may seek to further expand its presence in other premier markets, potentially leading to additional lease agreements and investments in high-end office spaces. It is also possible that other flexible office providers could follow suit, increasing competition in the high-end Manhattan market.
