Investment management firm Neuberger Berman plans to add an additional 47,000 square feet to its new 355,000-square-foot global headquarters at 1290 Avenue of the Americas between West 51st and West 52nd Streets, Crain’s New York Business reported.
This pre-move expansion brings Neuberger Berman’s total footprint at 1290 Avenue of the Americas, a 43-story, Class A tower owned by Vornado Realty Trust, to approximately 400,000 square feet.
Last May, Neuberger Berman announced it had signed a 20-year lease at the office building. The company has said it plans to relocate from its current location at 605 Third Avenue, between East 39th and East 40th Streets, in the fourth quarter of 2016.
Vornado’s Glen Weiss represented the firm in-house and was assisted by Cushman & Wakefield’s Josh Kuriloff and Bruce Mosler. Newmark Grubb Knight Frank’s Neil Goldmacher represented Neuberger Berman in negotiations.
Neither Vornado nor Cushman & Wakefield immediately responded to a request for comment. NGKF declined to comment.
Crain’s reported that rents at 1290 Avenue of the Americas go for in the $70s per square foot.