Four Companies Sign Leases at Fisher Brothers’ 299 Park Avenue
By Mark Hallum December 7, 2021 5:07 pm
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Four companies have together recently leased 100,000 square feet at Fisher Brothers’ 299 Park Avenue, the landlord announced Tuesday.
Kelso & Company, middle market private equity firm, will take 29,812 square feet on the 30th floor, Crescent Capital Group will occupy 29,733 square feet on the 33rd floor, and Lightstone, a real estate investment company, has signed on for 20,055 square feet on the 34th floor.
Lincoln International, a global investment bank, will have 56,656 square feet once it completes an expansion on the sixth and seventh floors.
“As New York City continues to recover and we welcome our tenant workforce back to the office, our multi-year commitment to enhancing our assets with investments in amenities, health and safety, and infrastructure upgrades has led to extraordinary leasing activity,” Ken Fisher, a partner at Fisher Brothers, said in a statement.
Asking rent in the building was in the high $90s per square foot.
According to Fisher Brothers, these companies will reap the benefits of a $20 million capital improvement implemented at 299 Park Avenue last year that included renovating the lobby and the exterior facade as well as upgrading the elevators.
“Lincoln International has experienced significant growth around the world and in New York specifically,” Eric Malchow, North America CEO for Lincoln International, said. “We are taking a second full floor under our existing space on the 6th floor to accommodate our growing team of investment banking advisors. In addition to providing contemporary work and meeting spaces for our talent, we are adding a central staircase between the floors to facilitate collaboration and connectedness – which is core to our culture.”
Marc Packman, Clark Briffel, David Falk, Peter Shimkin, Andy Sachs and Eric Cagner from Newmark (NMRK) negotiated on behalf of the landlord with Crescent Capital Group, Lightstone and Lincoln. Mark Weiss from Cushman & Wakefield (CWK) represented Lincoln International, while Crescent Capital was represented by Dan Horowitz and Jeff Peck from Savills.
Lightstone was represented by Barry Zeller, Jonathan Serko and Barry Garfinkle from C&W. And Kelso & Company was represented by David Hollander, Chris Corrinet and David Kleinhandler from CBRE.
Mark Hallum can be reached at mhallum@commercialobserver.com.
