SJP Properties Signs New Office Leases with Anchorage Digital and Life Science REIT at 470 Park Avenue South

Crypto platform and RE trust to occupy strategically located, highly-amenitized boutique office building in Midtown South

SJP Properties Signs New Office Leases with Anchorage Digital and Life Science REIT at 470 Park Avenue South

NEW YORK, N.Y. – SJP Properties has signed leases with two industry-leading firms, Anchorage Digital and a publicly traded REIT specializing in life sciences and technology, for a combined 20,000 square feet of office space at its 470 Park Avenue South property in Midtown Manhattan. The addition of these two tenants demonstrates the success of SJP and PGIM Real Estate’s joint strategy to implement a $15 million capital improvement program following the acquisition of the building in 2018. 470 Park Avenue South offers pre-built floors and unmatched indoor and outdoor lifestyle amenities, reflecting the needs of today’s discerning occupiers.

“Through our strategic investment in 470 Park Avenue South, we’ve seen a significant uptick of interest in this property as companies prioritize office environments that streamline commutes, offer access to the outdoors, and include a suite of high-end amenities to get employees excited about coming into the office. 470 Park Avenue South meets all of these demands,” said Alexander Erdos, Senior Vice President – Leasing & Marketing at SJP Properties.

Anchorage Digital is a full-service financial platform and infrastructure provider for the digital asset space. Headquartered in San Francisco, Anchorage Digital is leasing 10,000 square feet on the 9th floor of 470 Park Avenue South for its New York City outpost.

“New York City is still a focal point for financial services in the U.S., and Anchorage is pleased to reopen our offices and get our local team collaborating together again,” said Diogo Mónica, President and Co-Founder of Anchorage Digital.

The real estate investment trust — with expertise as an owner, operator, developer, and investor in life science campuses in key urban markets across the U.S. — is the first life science office tenant to take space at 470 Park Avenue South and will occupy the building’s entire pre-built second floor, which spans 10,000 square feet.

470 Park Avenue South features a recently unveiled suite of purpose-built indoor and outdoor lifestyle amenities including a contemporary tenant lounge space branching off the building’s main lobby and a fully landscaped outdoor courtyard outfitted with a custom-designed stone fire pit and bar ideally suited for after-hours socializing.

Rory Murphy, Patrick Heeg, and Chase Gordon of Transwestern Real Estate Services represented Anchorage Digital in its lease. The REIT was represented by James Gale and Bill Hunter of Cushman & Wakefield. Paul Amrich, Neil King, James Ackerson, and Josh Pernice of CBRE, the exclusive leasing agents for 470 Park Avenue South, represented building ownership in the transaction.

With immediate access to the 6 Train underneath the building and just a 10-minute walk from Grand Central Terminal, 470 Park Avenue South provides easy access to the 4, 5, 6, 7 and S subway lines and the Metro-North Railroad. It is also a 10-minute walk to Penn Station, with access to the 1, 2, 3, A, C and E subway lines, Amtrak, PATH, LIRR, and NJ TRANSIT railroads.

The broader Park Avenue South neighborhood also amplifies the experience at 470 Park Avenue South, positioning tenants within walking distance of fitness options such as Equinox and SoulCycle; high-end retailers; upscale residential developments; trendy bars and eateries like Upland, Simon and the Whale, and The Clocktower; and boutique hotels like Mondrian Park Avenue, The Edition, Royalton Park Avenue and The James NoMad.

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