Freeman Spogli & Co. Grows to 11K SF at 299 Park Avenue
By Celia Young November 4, 2022 12:30 pm
reprints
Private equity firm Freeman Spogli & Co. is investing in its New York office.
Los Angeles-based Freeman Spogli inked a 10-year deal to renew its 8,645-square-foot space at Fisher Brothers’ 299 Park Avenue and expand to a total of 11,439 square feet across part of the 20th floor, the landlord announced Friday. Asking rent was between $90 and $100 per square foot, according to Fisher Brothers.
The deal keeps Freeman Spogli, known for its retail and consumer-focused investments, next to a slew of other financial tenants at the 42-story tower between East 48th and 49th streets. Neighbors include private equity firm Kelso & Company, real estate investment business Lightstone and global bank Lincoln International.
Fisher Brothers’ $20 million renovation of the Emery Roth & Sons-designed building’s lobby, elevators and facade helped convince Freeman Spogli to stick around, according to the landlord.
“We have made significant capital improvements across our portfolio in recent years which allow us to continue to offer our tenants a best in class office experience,” Ken Fisher, a partner at Fisher Brothers, said in a statement. “We are excited to continue our partnership with Freeman Spogli & Co. as they grow their footprint at 299 Park Avenue.”
Fisher Brothers’ Marc Packman, Clark Briffel, Charles Laginestra and Josh Fisher handled the deal in-house for the landlord. CBRE’s Ken Rapp and Michael Liss represented the tenant. CBRE and Freeman Spogli declined to comment.
Celia Young can be reached at cyoung@commercialobserver.com.
