Leases  ·  Office

Willow Tree Credit Partners Signs 11K-SF Deal at 450 Park Avenue

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Willow Tree Credit Partners is turning over a new leaf on its New York City offices, Commercial Observer has learned.

The alternative credit platform signed a five-year, 10,820-square-foot lease for the entire 29th floor of SL Green Realty’s 450 Park Avenue, to relocate eight blocks from its current offices on the 21st floor of 640 Fifth Avenue, according to the landlord.

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Asking rent was $165 per square foot, SL Green said.

“Park Avenue continues to be the brightest star of the Manhattan market that is experiencing improved tenant demand across all of Midtown,” Steven Durels, executive vice president for SL Green, said in a statement.

Howard Tenenbaum and Gary Rosen represented SL Green in-house while Willow Tree did not have any brokers, according to SL Green. Representatives from Willow Tree did not respond to a request for comment.

Willow Tree was founded in 2017 by Timothy Lower and has offices in Miami and Dallas, according to its website. It already lists 450 Park as its only New York City location on the company website.

Other investment-minded tenants in the 33-story office building at the corner of Park Avenue and East 57th Street include private investment firm Dubin & Company, which signed a 10,777-square-foot sublease in June; investing firm Garnett Station Partners, which took 24,963 square feet in October; and BlueCrest Capital Management, which relocated to 21,640 square feet in the building in August 2023.

Mark Hallum can be reached at mhallum@commercialobserver.com.