Leases  ·  Office

Pair of Financial Firms Relocate to Park Avenue Tower


Two finance firms have finalized leases for new offices at EQ Office’s Park Avenue Tower in Midtown East, Commercial Observer has learned.

Rohatyn Group, an asset management firm that focuses on emerging markets and real estate, inked a 10-year, 10,317-square-foot lease at the 36-story office tower at 65 East 55th Street, between Park and Madison Avenues, according to information from the landlord. It will relocate its headquarters from Vornado Realty Trust (VNO)’s 280 Park Avenue, which is nearby between East 48th and East 49th Streets.

SEE ALSO: Stripe Signs 147K-SF Sublease at 28 Liberty Street

In a second deal, investment management firm CM Investment Partners signed a 4,597-square-foot lease in the 620,000-square-foot building. The firm will move its offices from 601 Lexington Avenue, between East 63rd and East 64th Streets, otherwise known as Citigroup Center.

Both companies will occupy a portion of the 15th floor by the end of 2018.

“The reaction we’ve received from current and prospective tenants to the transformed Park Avenue Tower has been overwhelmingly positive and the strong leasing momentum, which includes accommodating both larger- and smaller-sized tenants, is a validation of our efforts,” said Scott Silverstein of EQ Office in prepared remarks.

Simon Wasserberger and Silverstein handled the deal in-house for EQ Office, along with a Newmark (NMRK) Knight Frank team of Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman. The Rohatyn Group was represented by NKF’s Larry Zuckerman and Dan Gronich. Silvio Petriello and Taylor Scheinman of CBRE (CBRE) oversaw the transaction on behalf of CM Investment Partners. Spokespeople for CBRE and NKF didn’t immediately respond to requests for comment.

EQ Office has signed several leases in the building recently, including 65,000 square feet with financial services firm BTIG and a 24,640-square-foot lease with biometric tech company Clear.