Insurance Broker NFP Leaves Madison Avenue for the MetLife Building
By Rebecca Baird-Remba August 16, 2023 5:31 pm
reprints
Insurance broker NFP is moving its New York City headquarters to the MetLife Building, the company announced Wednesday morning.
The firm — which provides property and liability insurance, retirement benefits and life insurance — inked a 30,000-square-foot lease on the 32nd floor of the tower at 200 Park Avenue.
Spokespeople for NFP and the building’s landlord, Tishman Speyer, didn’t provide information on the lease term or asking rent, but the average asking rent for Midtown was $83.41 per square foot in June, according to a CBRE report.
CBRE’s Mark Ravesloot, Mike Monahan, Mike Wellen and Zach Weil represented the tenant in the deal. Tishman Speyer — which co-owns the 59-story tower with the Irvine Company — has an in-house leasing team of Megan Sheehan and Sam Brodsky for the building. Spokespeople for Tishman Speyer and CBRE didn’t immediately return requests for comments on the deal.
NFP has occupied its current space at 340 Madison Avenue for 15 years and plans to relocate to its new office, which can accommodate up to 200 employees, next month.
“Our new corporate office at 200 Park is a world-class workspace,” Mike Goldman, the president and chief operating officer at NFP, said in a statement. “The design of the space and the amenities throughout the building will enhance our team’s ability to work together and deliver the integrated property and casualty, benefits, wealth management and retirement solutions our clients need.”
Other recent deals in the building include a 10,000-square-foot lease for a seafood restaurant from The Hospitality Department and a 43,000-square-foot office lease for Ireland’s consulate general.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
