Leases  ·  Office

Fisher Brothers Lures Financial Marketing Firm to 605 Third Avenue


Financial services marketing firm FMCG Direct is relocating its New York City offices to 605 Third Avenue in Midtown East after signing a lease for 21,229 square feet at the Fisher Brothers-owned office tower, Commercial Observer has learned.

FMCG Direct inked a 10-year deal last month for the entire 37th floor at the 44-story, 1.1-million-square-foot building between East 39th and East 40th Streets, according to sources with knowledge of the transaction. The company, a subsidiary of Minnesota-based business services firm Deluxe Corporation, is slated to relocate its offices from Vornado Realty Trust (VNO)’s 90 Park Avenue in the first quarter of 2019.

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Asking rent in the deal was in the low $80s per square foot, sources said. Ryan Tibbits and Harry Krausman of Cushman & Wakefield (CWK) represented Deluxe in the deal, while C&W’s Andrew Ross represented Fisher Brothers alongside the landlord’s in-house team of Marc Packman and Clark Briffel.

Representatives for Fisher Brothers confirmed the deal, citing it as the latest in a slew of leases that the real estate investment firm has signed at the 1963 building since completing a $25 million capital improvement program there that was helmed by architecture and interior design firm Rockwell Group. The renovations included the construction of a new building entrance and a larger, revamped lobby.

“Our strong leasing momentum at 605 Third Avenue is a direct result of our efforts to provide a fully modernized environment with progressive design and an expanded amenities program to our tenants,” Fisher Brothers Partner Ken Fisher said in a statement. That amenities program is anchored by event and meeting space provider Convene, which inked a lease earlier this year to design and operate a tenant amenity center on the seventh floor featuring a café and an outdoor terrace as well as meeting, event and conference spaces.

Fisher Brothers also signed the Permanent Mission of Japan to the United Nations to a more than 50,000-square-foot lease at 605 Third Avenue earlier this year and agreed to a nearly 20,000 square foot lease at the building with the Turkish Consulate General just last month—capitalizing on the property’s proximity to the United Nations’ headquarters complex to draw both tenants from their previous Midtown East offices.

Other tenants at the building include business publishing and events company Informa, Spanish-language television broadcaster Univision and the United Nations Population Fund.

Representatives for C&W did not immediately provide comment.