Leases  ·  Office

Wellington Management Plans First NYC Office at 799 Broadway

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Wellington Management is opening its first New York office in a new boutique office building in Greenwich Village, continuing a trend of finance and tech firms looking for space outside of Midtown.

The firm, which has $1 trillion in assets under management, leased 71,000 square feet at Columbia Property Trust’s 799 Broadway, according to Bloomberg. Wellington will anchor the building with 250 employees, who have been working remotely or commuting to the firm’s Boston headquarters. 

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Two other tenants have already inked office deals at 799 Broadway, which was developed last year with an eye toward pandemic concerns like ventilation and outdoor space. Online mortgage lender Newrez took 25,000 square feet in the building, followed by Bain Capital Ventures with 8,756 square feet.

Asking rent in the building is $175 per square foot, according to a source with knowledge of the deal.

JLL (JLL)’s Mitchell Konsker, Benjamin Bass and Sam Seiler represented the landlord in the negotiations, while their JLL colleagues Steven Rotter and Randy Abend handled the transaction for the tenant. A JLL spokesperson didn’t respond to a request for comment on the deal.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.