The School of Visual Arts has renewed its 80,000 square feet at 380 Second Ave. on the southeast corner of East 22nd Street three years ahead of time.
The entire second, fifth, seventh and eighth floors of the 10-story building are used for its central library, graduate school and undergraduate school. An early renewal provides fiscal and operational security for tenants and lowers the stress factor that a space search and move might create.
Neil Lipinski of Lipinski Real Estate Advisors represented the tenant, which renewed the lease through 2031.
James Caseley, Carol Sacks and Alex Kaskel of ABS Partners Real Estate represented the ownership, which had an asking rent of $55 per square foot.
