Fiduciary Trust Relocating to 280 Park Avenue


280 Park Avenue.
280 Park Avenue. (photo credit: Neoscape)

Fiduciary Trust International, a wealth management firm, along with Franklin Templeton, a global investment management firm and Fiduciary Trust’s parent company, will sign a lease at 280 Park Avenue, according to the New York Post.

The paper reported the companies are signing a 15-year lease for a collective 126,000 square feet at the property, owned by Vornado Realty Trust and SL Green Realty Corp. The office will serve as Fiduciary Trust’s headquarters.

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Both companies will relocate from 600 Fifth Avenue between East 48th and East 49th Streets.

CBRE’s Mary Ann Tighe, Eric Deutsch, Ken Meyerson, Chris Corrinet and Zach Weil represented Fiduciary Trust in negotiations. A spokesman for CBRE declined to comment on the deal. SL Green’s leasing director Steven Durels and CBRE’s Peter Turchin, Gregg Rothkin and Sam Seiler negotiated on behalf of SL Green and Vornado.

A spokeswoman for Fiduciary Trust and Franklin Templeton did not immediately respond to a request for comment.

Asking rents were not immediately available, but last October Commercial Observer reported that asking rents in the building were between $95 and $130 per square foot.

The building at 280 Park Avenue, which is between East 48th and East 49th Streets, is a 43-story, Class A building. Other tenants include Blue Mountain Capital Management, Thayer Street Partner Holdings, Promontory Financial Group, Cohen and Steers and Napier Park Global Capital.