State Street Bank Relocating to 30K SF at 601 Lexington Avenue
By Mark Hallum April 3, 2024 12:51 pm
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State Street Bank" class="company-link">State Street Bank is relocating to BXP’s 601 Lexington Avenue after signing a 10-year, 30,000-square-foot lease.
The Massachusetts-based investment and asset management firm plans to move its current New York City offices from 1290 Avenue of Americas to the 29th floor of the BXP building, where asking rent was $96 per square foot, according to Bisnow, which first reported the deal.
A spokesperson for BXP, formerly known as Boston Properties, did not immediately respond to a request for comment.
JLL (JLL)’s Cynthia Wasserberger, Mike Berg, Paul Mas and Sofia Bruno negotiated on behalf of the tenant and its unclear who represented the landlord.
Led by chairman and CEO Ron O’Hanley, State Street has the majority of its offices in the greater Boston area with only one New York City outpost. Its subsidiary, CF Global Trading, has a location at 60 East 42nd Street, also known as One Grand Central Place.
Other recent leases in the 1.7 million-square-foot 601 Lexington include asset manager LibreMax, which signed a 10-year lease for 21,000 square feet in March.
Blackstone added 200,000 square feet to its footprint in the building in April 2022, bringing its total to 300,000 square feet, and the property is also home to law firm Kirkland & Ellis and Citibank.
Mark Hallum can be reached at mhallum@commercialobserver.com.
