Wealth Manager Inks Park Avenue Lease
BBR Partners, a boutique wealth management company, is leaving 2 Grand Central Tower on East 45th Street for more prime office territory uptown.
The firm inked a 15-year, 30,000-square-foot lease for the entire 18th floor of Park Avenue Plaza at 55 East 52nd Street, between Madison and Park Avenues, landlord Fisher Brothers announced. Asking rent in the deal wasn’t disclosed.
Marc S. Packman and Charles P. Laginestra handled the deal in-house for Fisher Brothers, along with Howard Fiddle, Peter Turchin, Christie Harle, Benjamin Joseph, and Roger Griswold of CBRE (CBRE). Brad Needleman at Newmark (NMRK) Knight Frank and Jason Gorman at CBRE represented BBR Partners during the transaction.
“We are excited to begin our relationship with Fisher Brothers as a tenant of their modern building in Midtown East,” said Barry Klayman, a partner and COO at BBR Partners, in a statement. “Fisher Brothers understood our needs and were able to safely accommodate our people, as well as our short and long-term business goals as we enter a post-COVID-19 world.”
BBR has occupied nearly 24,000 square feet on the 26th and 27th floors of Rockwood Capital’s 140 East 45th Street—aka 2 Grand Central Tower—since 2005, according to information from CoStar Group. Rockwood put the 44-story, 1980s office property on the market for $580 million just before the coronavirus pandemic struck New York City.