Federated Investors Inc. will be relocating its New York office in the Grand Central area.
The Pittsburgh, Pennsylvania-based financial services firm will be moving its office from 450 Lexington Avenue to 101 Park Avenue where it will take a 26,400-square-foot suite. The move is set to happen in December 2014 when the firm finishes renovations on its 41st floor office.
“We were able to move quickly to identify an ideal, full-floor location in an iconic building that will afford Federated greater office space efficiency for its New York City operations,” said Greg Kraut, a principal at Avison Young, in a prepared statement.
“The company’s new location features great views and a lot of natural light, and is within proximity to Grand Central Terminal, providing ease of access to Manhattan’s foremost transit hub for both Federated’s employees and the company’s clients,” he continued.
Mr. Kraut worked alongside Brad Totten, a principal in Avison Young’s Pittsburgh office, in representing Federated Investors in the transaction. The landlord, H.J. Kalikow & Co. LLC, was represented by a brokerage team consisting of John Cefaly and Clark Finney of Cushman & Wakefield.
The 49-story Class A building attracts reputable businesses like Booz & Co., Morgan Stanley, Robertson Foundation, Morgan Lewis & Bockius, Kelley Drye & Warren, and Tiger Management, a hedge fund that holds the 47th and 48th floors.
The building is also home to Club 101, a membership-based business luncheon club that is known to be the premier destination for private business meetings, banquets, and celebrations.