(SEP. 22, 2021 – New York City) – OPEN Impact Real Estate LLC (OPEN) announces that it represented LUMA Partners LLC in a 7,080-square-foot lease renewal for the investment bank’s headquarters at 101 Fifth Ave. in Manhattan. Lindsay Ornstein, founder of OPEN, and Rory Murphy, partner at Transwestern Real Estate Services (TRS), jointly represented LUMA Partners in the transaction.
“We have intentionally custom-designed our office to create an environment that inspires creativity and best supports our team’s ability to provide strategic advice to optimize outcomes for our valued clients,” said Terence Kawaja, CEO and founder of LUMA Partners. “We are very pleased to have the opportunity to stay at 101 Fifth Ave. and capitalize on the current market climate.”
LUMA Partners, the leading investment bank focused on digital media and marketing, occupies the entire 9th floor of the 11-story building. Building ownership, Eretz Group, was represented in-house by Nick Mok.
“We have been working with LUMA Partners for many years and it’s rewarding to continue to support them in their latest transaction,” said Ornstein, founder of OPEN. “Eretz Group has been very accommodating and flexible throughout the process.”
According to research by Transwestern, the Flatiron submarket of Manhattan consists of 27 million square feet of office space and had a 19.2% availability rate as of Q2 2021.
About LUMA Partners
LUMA Partners is the leading investment bank focused on digital media and marketing. LUMA leverages their unparalleled knowledge of the complex digital ecosystem and trusted relationships to advise on M&A and capital markets transactions that have produced superior outcomes. Founded in 2010 with offices in New York and Palo Alto, CA, LUMA has completed deals across the globe totaling over $20 billion in client outcomes.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
About OPEN Impact Real Estate LLC
OPEN Impact Real Estate (OPEN) is a woman-owned business that delivers a comprehensive range of commercial real estate advisory services, with a focus on supporting social-minded, mission-driven companies. Based in New York City, OPEN serves clients across the United States, particularly those that value the benefits of working with an M/WBE with deep expertise in furthering a company’s mission through physical space. For more information, please visit www.openregroup.com.
