Investment Manager VanEck Staying Put in 53K SF at 666 Third
By Nicholas Rizzi April 8, 2024 3:47 pm
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Investment manager VanEck won’t be giving up its 666 Third Avenue headquarters anytime soon, Commercial Observer has learned.
VanEck signed a 10-year renewal for its 53,333 square feet on the entire ninth and part of the eighth floor of Tishman Speyer’s 32-story building, known as the Chrysler East tower, according to a source with knowledge of the deal.
The source declined to provide the asking rent but the average asking rent in Midtown East was $83.60 per square foot in the first quarter of 2024, according to an Avison Young report.
VanEck was founded in 1955 by John van Eck and primarily works with exchange-traded funds, according to its website. Its headquarters has been located at 666 Third for at least a decade and also has outposts in Kansas City, Mo.; Germany; Amsterdam; Zurich and Sydney, according to the source and its website.
Cushman & Wakefield (CWK)’s Daniel Thompson and Adam Ardise represented VanEck in the deal, while Tishman Speyer handled it in-house via Samantha Augarten. The C&W brokers declined to comment, and a spokesperson for Tishman did not immediately respond to a request for comment.
Other tenants in the 767,000-square-foot building, located right next to the Chrysler Building, include First American Title Insurance, pension fund manager APG and law firm Mintz Levin.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
