Rabina’s 520 Fifth Avenue, the new 1,002-foot mixed‑use tower in Midtown Manhattan, has already leased more than 40 percent of its boutique office space. That rapid clip gives the developer an early commercial win just as condo sales and a members' club inside the skyscraper start to roll out.
Who Signed and What That Means
According to the New York Post, Rabina pushed occupancy past the 40 percent mark after signing new office deals with Headlands Technology, Abrams Capital, MFA Financial Inc. and 1832 Partners. The report also notes that asking rents on the boutique floors range from the high $100s up to more than $200 per square foot. That roster and price range signal an early mix of finance and tech tenants gravitating to space tailored for smaller, amenity-heavy floorplates.
Product and Scale
The office portion totals about 210,000 square feet across 25 boutique floors, roughly from the ninth through the 34th levels, with 12‑foot ceilings and terraces meant to stand out from older Midtown inventory. As REBusinessOnline reported, the building combines those offices with residential condos and a members' club.
Early Deals and the Leasing Team
Industry trackers previously reported lease activity totaling roughly 29,000 square feet, and Bisnow notes that JLL’s leasing team on the project includes Benjamin Bass, Paul Glickman and Frank Doyle, among others. Those earlier, smaller deals helped set a foundation for the larger group of tenants now reported to be in place, according to market coverage.
Why Tenants Are Signing
“The project’s early commercial success speaks to the strong demand for the workplace experience we’ve created,” Josh Rabina told the New York Post. Observers say the combination of modern amenities, transit access and smaller, flexible floorplates is exactly the type of product some finance and tech firms are seeking, a trend explored in coverage by The Real Deal.
What’s Next
With condo sales progressing and the building’s private club opening, Rabina is expected to keep marketing the remaining office inventory to land larger tenants and anchor deals. If leasing momentum holds, 520 Fifth could become a high-profile example of how carefully designed boutique offices fit into Midtown’s broader recovery story.
