Investment Firm GoldenTree Moving to 60K SF at BXP’s GM Building

A tree grows in … Manhattan. 

GoldenTree Asset Management, an investment firm with a global presence, has signed a 60,000-square-foot, 15-year lease at BXP’s General Motors Building at 767 Fifth Avenue.

The lease spans the 43rd and 44th floors of the 50-story GM Building, according to BXP, which did not provide the asking rent. However, New York Offices puts the asking rent between $80 and $110 per square foot for the building.

GoldenTree, which has offices in London and Dubai, will move to 767 Fifth Avenue in 2026 from its current 20,600-square-foot office at 300 Park Avenue. The deal was first reported by the New York Post. 

“We’ve always been committed to providing our team with an environment that supports high performance and a high degree of collaboration,” Steven Tananbaum, founder, managing partner and chief investment officer of GoldenTree, said in a statement. “The GM Building offers the ideal combination of location, layout and amenities to support the team and our continued commitment to differentiated returns and deliberate growth.”

CBRE (CBRE)‘s Peter Turchin, Ben Friedland, Caroline Merck and Jacob Rosenthal represented BXP in the lease negotiations, while Hanley Advisors’ Jim Coleman and Steven Kaufman handled it for GoldenTree. CBRE did not respond to a request for comment while Hanley Advisors could not be reached for comment. 

“GoldenTree’s move to grow its footprint in New York City in the GM Building underscores the importance of cohesive workplaces,” Hilary Spann, executive vice president for BXP’s New York region, said in the statement. “The central location, dynamic neighborhood and cutting-edge amenities creates an environment that fosters collaboration, innovation and employee satisfaction.”

The 2 million-square-foot GM Building spans the full block between Fifth and Madison avenues and East 58th and 59th streets, near the southeast corner of Central Park. BXP acquired the building in 2008 and completed its update to the building in 2023, having added a 35,000-square-foot amenity center designed by Fogarty Finger called The Savoy Center. The amenities space features a grab-and-go coffee bar, a lounge, a fitness center, and a luxury dining area.  

Other tenants of the GM Building include Italian clothing retailer Herno, hedge fund Balyasny Asset Management, and Apple. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.