Stone Lion Capital Partners LP will be moving up the street from their headquarters on 461 Fifth Avenue to ATCO’s 555 Fifth Avenue.
The financial services firm was looking to remain in the Grand Central area, signing a five year and three month lease occupying the entire 18th floor of the new building.
“The entire floor is 6,300 square feet with outdoor space overlooking Fifth Avenue,” said Kate Goodman, co-president of ATCO Properties & Management. John K. Lord, an in-house broker, represented ATCO in the transaction. Ken Ruderman and Frederick Piumelli of Studley represented the tenant.
“Our occupancy rate is now 100 per cent.” Mrs. Goodman further noted. “[Stone Lion Capital] was the last tenant. Other notable tenants include CW Financial Services, Valley National, Global Excess Partners, and Floyd Advisory. The retail tenants are Barnes and Noble and Wichcraft.”
The 20-story, 250,000 square foot, LEED Silver awarded building was constructed in 1955 and renovated in 1993. Atco Properties & Management has owned and managed the building since its construction. The ATCO team spans across multiple decades with Mrs. Goodman being the fourth generation to work in the company. In addition to 555 Fifth Avenue, ATCO owns 381 Park Avenue South, 630 Third Avenue, 40 Central Park South, and 515 Madison Avenue.
Stone Lion Capital specializes in credit opportunities and high-yield and distressed investing. The firm is based in New York but has affiliated offices in Atlanta, Chicago, Nashville, London, and Brussels.