MassMutual Leaves Fifth Avenue for Park Avenue
Life insurance company MassMutual is moving its sales office a couple blocks south and east in Midtown.
The 168-year-old insurance seller is leaving 530 Fifth Avenue, between West 44th and West 45th Streets, for a new space at Vornado Realty Trust’s 90 Park Avenue, between East 38th and East 39th Streets, Crain’s New York Business reported.
The corporation formerly known as Massachusetts Mutual Life Insurance Company will move into 46,000 square feet across the 17th and 18th floors by the end of the year, according to the paper. The length of the lease wasn’t clear, but asking rents in the deal were in the mid-$80s per square foot, per Crain’s.
Lenox Advisors, a wealth management firm and affiliate of MassMutual, shared offices with the insurance company at 530 Fifth and will occupy 6,000 square feet alongside it at 90 Park Avenue.
A CBRE team represented MassMutual and Lenox Advisors. The brokers weren’t named, and a spokeswoman for the brokerage declined to comment on the lease. Vornado was represented in-house by Andrew Ackerman and Ryan Levy. A Vornado spokesman declined to comment on the transaction.
Other tenants in the 41-story, 1-million-square-foot tower include PriceWaterhouseCoopers, which occupies 240,000 square feet, and FactSet Research Systems, which has 123,000 square feet.