Financial Data Firm Consolidates at 90 Park [Updated]
Lauren Elkies Schram April 9, 2014, 6:33 p.m.
FactSet Research Systems, which provides analytics and content to the financial industry, has consolidated its space and renewed its lease at 90 Park Avenue between 39th and 40th Streets.
The financial data firm will now have 102,000 square feet spanning the entire 7th, 10th and 11th floors of the 1 million-square-foot tower, according to Crain’s, rather than be spread throughout the building.
Asking rents in the Vornado Realty Trust building, which is undergoing improvements to the tune of at least $30 million, are in the $60s per square foot and FactSet took its space for 15 years, the publication said.
Joe Cabrera of Colliers International represented FactSet, which is listed on the New York Stock Exchange and NASDAQ, in the deal. Glen Weiss’ New York leasing team, including Josh Glick and Andrew Ackerman, represented Vornado in-house.
“A lobby can define a building’s aesthetic and tenants really react to and appreciate a new beautiful entrance,” Mr. Weiss told Crain’s. “We got a great response at 1290 [Avenue of the Americas] and at 90 Park Avenue we’re again getting a lot of attention for the work.” Vornado gave 1290 a multi-million-dollar lobby and then leased up the vacant space.
John Butters, a senior earnings analyst at FactSet, declined to comment besides pointing out the correction in the Crain’s article.
Update: This story was edited to reflect a response from someone at FactSet.