Investment Firm Brighton Park Capital Moving to 16K SF at 452 Fifth Avenue
By Mark Hallum June 17, 2024 1:32 pm
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Brighton Park Capital is moving its New York City offices close to Bryant Park after signing a 16,428-square-foot lease, Commercial Observer has learned.
The investment firm will be relocating from 299 Park Avenue to Property & Building Corporation’s 452 Fifth Avenue, also known as 10 Bryant, after inking a 10-year deal for the entire 21st floor, according to landlord broker JLL (JLL).
JLL did not immediately provide the asking rent, but Manhattan’s Grand Central district saw an average asking rent of $67.03 per square foot across all classes in the first quarter of 2024, according to a report from Cushman & Wakefield.
“10 Bryant is among just a handful of buildings in an extremely tight submarket that can provide full-floor identity for boutique office tenants seeking a spectacular location,” JLL’s Paul Glickman, who represented the landlord with Benjamin Bass, Kristen Morgan and Kate Roush, said in a statement. “This is a high-performance building with modern infrastructure and dramatic views across one of the city’s most beloved parks.”
Newmark (NMRK)’s Neil Goldmacher, Josh Friedman and Cooper Weisman negotiated on behalf of the tenant, but declined to comment.
10 Bryant Park is on Fifth Avenue between 39th and 40th streets, just south of the main New York Public Library. Tenants include fellow investment firm Generate Capital, which leased 32,421 square feet across the entire 26th and 27th floors in a relocation from its current location at 590 Madison Avenue, and Tilden Park Capital, which leases the entire 28th floor, and recently renewed after about 10 years at the address.
Mark Hallum can be reached at mhallum@commercialobserver.com.
