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Insurance Brokerage IMA Financial Opens 10K-SF Office at 1155 Avenue of the Americas

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A Denver-based insurance and financial services company is opening its first New York City office one block from Times Square.

IMA Financial Group signed a 10-year lease for 10,000 square feet on the 33rd floor of 1155 Avenue of the Americas in Midtown, landlord The Durst Organization announced.

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Asking rent was $105 per square foot, according to a source with knowledge of the deal.

The majority employee-owned IMA has offices in 15 states, including one in Harrison, N.Y., according to its website. 

IMA hopes to increase its presence in the New York metro area and started the push by acquiring the Harrison-based insurance brokerage York International last year. IMA said opening a Midtown office will help it recruit talent and maintain relationships with local clients.

“This location will be a centerpiece to our footprint in the region,” IMA regional President Robert Kestenbaum said in a statement.

Other tenants in the 42-story office tower stretching the full block between 44th and 45th streets include compliance communications firm Global Relay, which leased multiple floors at the top of the building last year, as Commercial Observer previously reported; law firms Perkins Coie and Jenner & Block; wealth management firm Baird; Cornell University; and Verizon

JLL (JLL)’s Howard Hersch and Brett Harvey arranged the deal for IMA, while Durst was represented in-house by Tom Bow, Rocco Romeo and Nora Caliban.  Hersch and Harvey declined to comment.

“Companies continue to find immense value in growing their businesses in Manhattan, and our responsibility is to deliver high-quality office space to their employees,” said Durst President Jonathan “Jody” Durst in a statement.

Abigail Nehring can be reached at anehring@commercialobserver.com.