Investment advisor invests in 12,455 square foot boutique office building in Union Square

JLL today announced the completion of the leasing of Zero Irvingthe newly developed multi-purpose building in 124 East 14th St. in the Union Square district of Manhattan and secured a 12,455 square metersFull floor lease with Senator Investment Group, an investment firm founded in 2008.

Senator will move from 510 Madison Ave. in the first quarter of 2025 and occupy the entire 20th floor of Zero Irving.

The transaction brings the 25,000 square-foot office tower to full occupancy less than two years after the 21-story building was completed. Zero Irving was developed by RAL Development Services and JRE Partners® (successor to Junius Real Estate Partners) in response to a competitive bid process by the New York City Economic Development Corporation. The joint venture partners invested over $200 million in the development to create a market-leading innovation center that will be home to fast-growing technology companies and leading financial investment firms.

Vice Chairman of JLL Mitchell Konsker, Managing Directors Benjamin Bass and Dan Turkewitz, Senior Vice Presidents Kristen Morgan And Carlee Palmer represented the property in the lease agreement with Senator Investment Group. The tenant was represented by Ben Friedland, Silvio Petrillo And Joseph D’Apice by CBRE.

“Zero Irving’s bold vision for dynamic, modern office space has resulted in incredible leasing success,” said Bass. “Thanks to the owner’s vision, commitment and execution, the project is 100% occupied and has a fantastic tenant roster.”

Robert LevineChairman and CEO of RAL, said: “Zero Irving fulfills the city’s vision of a 21st century office building, providing New York City jobs, a technology hub and a market-leading tenant ecosystem. It is an example of how public and private organizations can work together to achieve exceptional results. We are proud to have been able to develop it and would like to thank the EDC for their trust in us and the JLL leasing team for their work in helping to achieve this exceptional result.”

According to the leasing team, amenities are some of the key elements that have led to Zero Irving’s success. Zero Irving features a 6,300-square-foot tenant-only rooftop Sky Lounge with views of Union Square, Irving Place and the Manhattan skyline, a tenant-only fitness center with lockers and showers, bike storage, impressive double-height spaces on alternating floors, private outdoor terraces throughout the building, state-of-the-art infrastructure and LEED Gold certification.

Zero Irving’s other tenants include fintech company Melio, software company Sigma Computing, several other leading technology and financial services occupiers, and Civic Hall, which operates an 80,000-square-foot digital training center.

JLL is a leader in the commercial real estate market in the New York tri-state area. More than 2,600 of the industry’s most respected professionals provide brokerage, capital markets, property/asset management, consulting, and project and development services.

About RAL Development Services

RAL Development Services LLC (RAL), http://ralcompanies.com/, is a real estate development company with a 40+ year track record of building complex, high-profile projects nationally and internationally. RAL’s interdisciplinary in-house expertise includes pre-development and permitting, urban planning, architecture and design, finance, construction management, landscape architecture, marketing and leasing, and property management. RAL serves as both a principal owner/developer and owner representative, bringing its expertise to residential, commercial, mixed-use, master-planned communities, resort and hospitality, and other property types. RAL prides itself on its commitment to the communities it works with, building strong and lasting relationships with local constituents wherever they build, employing union labor and working with MWBE contractors whenever possible. RAL uses and believes in state-of-the-art processes and technologies, but never replaces them with the experience, ingenuity, creativity, passion, leadership and professional judgement of its employees.

About JRE Partners

JRE Partners is a privately held real estate investment management firm with expertise in real estate acquisition, development/redevelopment, financing, operations, marketing and capital markets. Founded in 2022, JRE Partners is the successor company to Junius Real Estate Partners, a direct real estate investment division established within JPMorgan in 2022. JRE Partners originates and manages direct investments in U.S. commercial and residential real estate through managed investment funds on behalf of a global investor base.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management firm, has helped clients acquire, build, occupy, manage and invest in a wide variety of commercial, industrial, hospitality, residential and retail properties. A Fortune 500^® Company with annual revenue of $20.8 billion and offices in over 80 countries worldwide. Our more than 110,000 employees bring the power of a global platform with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BETTER WAY.^SM. JLL is the brand name and a registered trademark of Jones Lang LaSalle Incorporated. For more information, visit jll.com.