Focus Financial Partners has signed an 11,923-square-foot office lease at The Durst Organization’s 825 Third Avenue in Midtown East.
The partnership of wealth management firms relocates to the 40-story, 544,000-square-foot office tower from the 7,400-square-foot space it previously occupied at 909 Third Avenue.
“The building offered a well-priced alternative along Third Avenue with great light, city views and an efficient floor plate configuration,” said Greg Kraut, principal and managing director of Avison Young’s New York City office in a statement, who represented the tenant with Dana Trulis and Paul Massey. “We are very pleased to have been able to identify a new office location for Focus that effectively addresses the firm’s business needs… this area of Third Avenue has become a destination for companies in search of value in a strategic Midtown locale with great access to transportation.”
Founded in 2006, Focus has nearly $60 billion in client assets and more than 800 employees, including more than 100 partners. The company provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions.
The firm was included in Inc. Magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010 and last year it was named a Crain’s New York Business “Fast 50” growth firm in New York City.
“We appreciate Avison Young’s ability to secure a location that will support our growing operations now and into the future,” said Rudy Adolf, the firm’s founder and CEO, in a statement. “This new space provides our firm with the advantages of occupying a full floor in a well-maintained, secure building that is in the same neighborhood as our current office location.”
The property, built in 1969 and designed by Emery Roth & Sons, represents the Durst family’s “turning from East Side to West, from the transformation of Third Avenue to the revitalization of Sixth,” according to the landlord’s website, which lists Advance Magazine Publishers as a major tenant in the building.