Investment Firm Bardin Hill Moving to 299 Park Avenue
By Nicholas Rizzi May 13, 2019 2:00 pm
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Another financial services company has inked space at 299 Park Avenue, Commercial Observer has learned.
Bardin Hill Investment Partners signed a 12-year lease for 28,045 square feet on the entire 24th floor of the 42-story building between East 48th and East 49th Street, according to landlord Fisher Brothers. Asking rent was in the mid-$90s per square foot, a source with knowledge of the deal said.
The investment firm plans to ditch its nearby offices at 477 Madison Avenue, between East 51st and East 52nd Street, in November, a Fisher Brothers spokeswoman said.
Chris Corrinet and Neil King of CBRE (CBRE) handled the deal for Bardin Hill while Fisher Brothers was represented in-house by Marc Packman and Clark Briffel along with Newmark (NMRK) Knight Frank’s Peter Shimkin, Andrew Sachs, Eric Cagner and David Falk. Representatives for CBRE and NKF did not immediately respond to a request for comment.
Fisher Brothers will start work soon on a $20 million capital improvement project at 299 Park Avenue which will redesign the lobby and building entrance and add an illuminated plaza, according to the landlord.
“[The building’s] unique blend of efficient floor plates, progressive design, upcoming renovation plans and prestigious Plaza District address proved to be the perfect fit for Bardin Hill,” Winston Fisher, a partner at Fisher Brothers, said in a statement. “We are pleased to welcome the firm to our esteemed tenant roster.”
The 1.2-million-square-foot building houses several financial services companies including Capital One (COF) and UBS. Several more have inked deals for space recently like One Williams Street Capital Management taking 29,754 square feet in October 2018 and B. Riley Financial nabbing 29,173 square feet in March 2018, as CO previously reported.
