Investment manager Neuberger Berman will relocate its global headquarters from 605 Third Avenue to Vornado’s 1290 Avenue of the Americas during the fourth quarter of 2016, the company announced today.
The private financial services firm has signed a 20-year lease for approximately 355,000 square feet at the Midtown office building. As part of the deal, the building will feature extensive Neuberger Berman branding and a dedicated lobby visitor center.
“Neuberger Berman has a great and long-standing history in New York City and we are excited about this next chapter,” said George Walker, the chairman and chief executive officer of Neuberger Berman, in a statement. “In both location and capabilities, our offices in 16 countries reflect our commitment to our employees and our mission to serve clients.”
The tenant was represented by Neil Goldmacher of Newmark Grubb Knight Frank. Vornado was represented by Josh Kuriloff and Bruce Mosler of Cushman & Wakefield.
Neuberger Berman has been headquartered at 605 Third Avenue since 1992. With the current lease set to expire in 2017, the firm began evaluating its real estate options two years ago.
“Vornado is delighted to welcome Neuberger Berman to 1290 Avenue of the Americas, our 2.1-million-square-foot office building in the heart of corporate row on Avenue of the Americas,” Steven Roth, the chairman and chief executive officer of Vornado, added in a statement. “Our business is to supply great space to great tenants. We have known Neuberger Berman a long time and they are best in class.”