Global risk management firm Lombard Risk has signed a lease for the entire 14th floor at 205 Lexington Avenue, according to a press release issued by Colliers International.
The firm will take 7,318 square feet of space at the property, which sits between East 32nd and East 33rd Streets in Kips Bay. The press release noted that the London-based company is both relocating and merging its New York office at 489 Fifth Avenue between East 41st and East 42nd Streets with its Newark, N.J. office at the new location.
The property at 205 Lexington Avenue is 19 stories and has 121,000 square feet of space.
“Bordering Midtown and Midtown South, 205 Lexington Avenue is an ideal, central location for Lombard Risk’s employees and clients,” said Kelly Broderick, the managing director at Colliers International, in prepared remarks. Ms. Broderick, along with Colliers’ David Glassman, represented Lombard Risk in negotiations.
DTZ’s David Hoffman, Jr., Christy Colley and Bryan Boisi represented the landlord, Somerset Group.
“DTZ is proud to continue to represent the Landlord, Somerset Management, in recently leasing three full-floor spaces at 205 Lexington Avenue,” said Mr. Boisi via a spokeswoman. “Our high-end finishes and creative layouts for pre-built space helped attract an established firm like Lombard.”
The Somerset Group also looked forward to welcoming Lombard Risk.
“We are delighted Lombard Risk chose 205 Lexington Avenue to consolidate its offices,” said David Eshaghian, the principal of the Somerset Group, in a prepared statement.
In addition to owning 237 West 35th Street between Seventh and Eighth Avenues, the Somerset Group also has office properties in Los Angeles, Calif. and Bethlehem, Pa. It also owns the Americana Shopping Center in Houston, Texas.