Seagram Building Inks Fiera Capital for Whole Floor
Terence Cullen May 5, 2015, 5:45 p.m.
Fiera Capital, the Canadian asset management company, has inked a deal for the entire eighth floor of the Seagram Building, the landlord announced, and Centerbridge Partners has renewed and expanded its lease.
The new tenant signed a lease for 26,060 square feet in the building, officially 375 Park Avenue between East 52nd and East 53rd Streets, according to RFR. Centerbridge Partners, a private investment firm, expanded by 13,624 square feet for a total foothold of 46,571, according to a spokesman for the landlord.
Fiera Capital won’t be moving far: its current office is listed on its website at 499 Park Avenue between East 58th and East 59th Streets.
Both are long-term leases, and asking rents were on average $165 per square foot, according to an RFR spokesman. He declined to give what floors Centerbridge Partners is on.
Steve Morrows of RFR represented the landlord in house, according to a news release. Robert Kennedy of Colliers International represented Fiera Capital, while Brian Goldman and Neil Goldmacher of Newmark Grubb Knight Frank represented Centerbridge Partners.
Spokeswomen for Mr. Kennedy and Messrs. Goldman and Goldmacher did not return a request for comment.
“Retaining and expanding existing tenants is important to me,” said Aby Rosen, the co-founder and principal of RFR, in prepared remarks. “We are seeing more wealth funds in the market and 375 Park remains the most attractive address for global business.”
ONEXIM Group, the private investment firm owned by Russian billionaire Mikhail Prokhorov, signed a six-year lease renewal for the 26th floor of the iconic building, CO reported last December.
Berkley Insurance Company in September signed a 10-year lease for 7,817 square feet, as CO reported.