First Manhattan Company, an investment advisory, is considering a two-floor, 50,000-square-foot deal at 399 Park Avenue sources have told The Commercial Observer.
The company is currently located at the office building 437 Madison Avenue, which is only a few blocks from 399 Park Avenue.
“I am familiar with it, I walked by it on the way to a doctor appointment yesterday,” a manager told The CO of 399 Park Avenue, cryptically neither confirming nor denying the rumor that the company was looking to take space there.
As The CO previously reported in recent days, a block of empty floors at 399 Park Avenue are abuzz with activity. Six contiguous floors are available in the 1.75 million-square-foot office tower, which is owned by Boston Properties, 27 through 32, each about 24,000 square feet in size.
It was not clear by press time which exact spaces First Manhattan was considering. Other tenants are also interested in floors in the stack, including Epoch Investment Partners, an investment management firm that also is considering two floors. The Jordan Companies, a private equity firm in the General Motors Building, is also in talks to relocate to 399 Park Avenue. The company, according to sources, is considering a single floor at the property.
The prospective deals come only a few weeks after Boston Properties negotiated to have Citibank renew its nearly 500,000-square-foot lease at 601 Lexington Avenue, a skyscraper it owns across the street from 399 Park Avenue – a transaction that significantly reduced that building’s vacancy exposure.
Executives at Boston Properties could not be reached for comment on the activity at 399 Park Avenue.
A CBRE leasing team represents Boston Properties at the 39-story property. No executives at the company could be reached.
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