Private equity firm expands to 32K-SF at Kalikow’s 101 Park Ave

NEW YORK, Jan. 14, 2025 – JLL announced today that private equity firm Incline Equity Partners has expanded its footprint at 101 Park Ave., the iconic 49-story office tower at the corner of 40th Street and Park Avenue in Midtown Manhattan owned and operated by H.J. Kalikow & Co. LLC.

Incline signed a 14,198-square-foot expansion to occupy space on the 47th floor, expanding Incline’s existing 18,000 square feet on the 46th floor of the property.

Headquartered in Pittsburgh, Pennsylvania, Incline Equity Partners is a private equity firm dedicated to investing across the middle market in services, value-added distribution and specialized light manufacturing.

Kathryn H. Kalikow of the Kalikow Organization stated, “101 Park Avenue addresses all of the key considerations of leading companies in the city today – a prime location surrounded by multiple transportation options, multimodal design providing a variety of spaces to accommodate individual work and collaboration, an extensive amenity offering and a vibrant social hub serving both tenants and the community. We are confident that this property provides the ideal environment for Incline Equity Partners to continue their growth.”

Owned and operated by H. J. Kalikow since it was built in 1982, 101 Park Ave. is ranked among the city’s premier office buildings. Offering 1.3M square feet of Class A Grand Central office space, as well as 30,000 square feet of retail space that includes a bank and full-service news stand, the building’s amenities feature Club 101, a dining club, business and entertainment venue, and Convene, a tech-enabled corporate event space. A five-story lobby entrance is manned by a full-time concierge and white-glove elevator attendants, and the property is outfitted with an emergency generator, 24 passenger elevators, a four-bay loading dock and parking garage.

JLL Vice Chairman Alexander Chudnoff, Senior Managing Director Nick Francic, Vice Chairman Harrison Potter and Senior Associate Kate Roush represented Incline Equity Partners in its expansion to 32,198 square feet. Cushman & Wakefield Executive Vice Chairman John Cefaly and Managing Director Nicholas Dysenchuk represented the landlord.

Said Chudnoff, “JLL has been privileged to work closely with Incline since they established their first New York office at 100 Park, subsequently doubling in size at 505 Fifth and then further expanding and relocating to 101 Park Avenue, where they are now growing again. Guiding them through this strategic real estate expansion has been an incredibly rewarding experience and we are thrilled to now help them propel their business even further."

According to JLL’s December Market Snapshot, financial services tenants have driven a rebound in Manhattan office leasing, signing 12.1 million square feet, or 40% of all leases last year. In 2025, leasing activity is expected to continue to be concentrated at the top of the market. With no significant amount of new construction on the horizon, this demand is likely to spill over to high-quality Class A buildings, increasing competition—and pricing—for these spaces.

JLL is a leader in the New York tri-state commercial real estate market, with more than 4,800 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

For more news, videos and research resources visit JLL’s newsroom.