Webster Bank and Insurer Signers Ink Deals at 360 Lexington Avenue

Commercial bank Webster Bank and insurance group Signers National are making moves at AmTrust RE’s 360 Lexington Avenue.

In the largest deal, Webster signed a renewal for its existing 30,621-square-foot space and tacked on an additional 15,397 square feet, according to the landlord. The expansion brings Webster’s footprint at the property to 46,018 square feet across three full floors.

Michael O’Connor, head of corporate real estate at Webster, said in a statement that 360 Lexington is “an ideal location and will help [the company] better serve the growing needs of our customers.”

The Connecticut-based bank previously had 22,522 square feet on the entire fifth and part of the sixth floor and expanded by 8,099 square feet — taking over the entire sixth floor — in 2022, as Commercial Observer previously reported.

Meanwhile, Signers National, a network of insurance companies, signed a new lease for approximately 15,000 square feet across two floors of the 24-story building, AmTrust said.

Signers National will relocate its headquarters to the building between East 40th and East 41st streets from its previous office three blocks away at 420 Lexington Avenue, as its new space will “allow us to better collaborate, grow our team and continue delivering exceptional service to our clients,” CEO Joshua Lamberg said in a statement.

The lengths of the leases and asking rents were unclear, but a report from Colliers found office rents in Midtown averaged $79 per square foot in February.

“The recent leasing activity not only underscores a strong desire for primely located office spaces that bolster collaboration and overall tenant satisfaction, but also reflects positive leasing momentum across New York City’s office market and early signs of a significant rebound,” Jonathan Bennett, president of AmTrust, said in a statement.

JLL (JLL)’s Jeff Szczapa and Drew Saunders brokered the deal for Webster, while Mitchell Konsker, Benjamin Bass, Barbara Winter and Thomas Swartz, also from JLL, represented the landlord. It’s unclear who brokered the Signers National deal.

A spokesperson for JLL did not immediately respond to a request for comment. The New York Post first reported the news.

AmTrust, which acquired 360 Lexington in November for $65.5 million, said it plans to complete renovations to the building by the end of this year, including a new amenity space with conference rooms, lounge spaces, a cafe and game rooms.

Other tenants of the 268,000-square-foot office tower include architecture firm Kenneth Park Architects and law firm Napoli Shkolnik, as well as Starbucks and sushi restaurant MakiMaki Sushi in retail space.

Isabelle Durso can be reached at idurso@commercialobserver.com.