HFA, SONYMA plan move to Rudin's 641 Lexington

Real Estate Weekly, May 12, 1993

Jack and Lewis Rudin, owners and developers of 641 Lexington Avenue, have announced the signing of a 15-year lease for 100,000 square feet of space with the State of New York Mortgage Agency (SONYMA) and New York State Housing Finance Agency (HFA).

SONYMA and HFA are co-locating as the result of an effort to streamline the functions of both agencies.

HFA and SONYMA will occupy the second through fifth floors of the 32-story, 345,000-square-foot office tower..

According to John G. Martinez, executive director of HFA and president/CEO of SONYMA, the co-location of these two agencies will create a 1 more coordinated and consistent atmosphere for financing of single and multi-family mortgage loans, in addition to making the process of financing housing in the State more efficient.

HFA, currently located at 3 Park Avenue, and SONYMA, currently housed at 261 Madison Avenue, were represented by a co-brokerage arrangement consisting of James B. Emden and Richard Karson of Edward S. Gordon Co., and Joseph G. Costabile and Noel Berk of Cushman & Wakefield, Inc.