Financial Consultant Junto Capital Takes 25K in Midtown
By Celia Young February 7, 2023 12:39 pm
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Junto Capital Management will trade its Midtown offices for larger digs one avenue west.
The financial consultant inked a long-term deal to relocate from 450 Park Avenue to 25,000 square feet across the 33rd floor of 550 Madison Avenue, according to landlord Olayan Group. Bloomberg first reported news of the transaction.
Olayan did not immediately disclose the terms of the lease.
Junto will more than double its footprint in the move from SL Green Realty’s 450 Park where it leases nearly 11,000 square feet, according to SL Green’s website. Junto did not immediately respond to a request for comment on the exact size of its old offices.
The deal is the latest in a handful of transactions at the 41-story 550 Madison, after Olayan wrapped up a $300 million repositioning of the property in 2021. Luxury designer Hermès secured 71,757 square feet for its U.S. headquarters last year, investment company Corsair Capital inked a 23,919-square-foot lease in September, and insurance firm Chubb took a whopping 240,000 square feet across 10 floors in 2021.
“We are pleased to welcome Junto Capital Management to 550 Madison’s growing roster of elite tenants,” Erik Horvat, Olayan America’s head of real estate, said in a statement. “The property offers a superior environment that supports employee engagement, promoting wellness, collaboration and creativity.”
CBRE (CBRE)’s Mary Ann Tighe, Scott Gottlieb, Howard Fiddle, Benjamin Joseph, Arkady Smolyansky and Alice Fair represented Olayan while Munish Viralam, Ben Friedland, Taylor Scheinman and Marlee Teplitzky, also of CBRE, handled the lease for the tenant.
A spokesperson from CBRE declined to comment.
Celia Young can be reached at cyoung@commercialobserver.com.
