Investment Firm Signs Lease at 280 Park Avenue
PJT Partners, a boutique investment firm, has signed a lease for 100,000 square feet at 280 Park Avenue, according to The New York Post.
The paper reported that PJT is expanding tremendously, from its current 13,000-square-foot space at 40 West 57th Street between Fifth Avenue and Avenue of the Americas.
The Park Avenue building, owned by Vornado Realty Trust and SL Green Realty Corp. that sits between East 48th and East 49th Streets, was represented by Peter Turchin, Mary Ann Tighe, Eric Deutsch, Sam Seiler and Gregg Rothkin from CBRE. The firm declined to comment on the deal.
Evan Margolin from Savills Studley represented PJT Partners in negotiations. Mr. Margolin also declined to comment.
Asking rents at the property, which SL Green and Vornado purchased in 2011 for approximately $500 million, range from $100 per square foot to $150 per square foot, the Post said.
Other tenants at the 1.24-million-square-foot, Class A property include Fiduciary Trust, Blue Mountain Capital Management, Thayer Street Partners Holdings, Napier Park Global Capital and Promontory Financial Group.