Leases   ·   Office Leases

Family Office Heyman Enterprise Relocates to 7K SF at 499 Park Avenue

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The Heyman Enterprise, a single-family office and investment firm led by CEO Larry Heyman, is relocating its offices to 499 Park Avenue in Manhattan’s Plaza District, Commercial Observer has learned.

Heyman Enterprise, which acts as an investment manager for the Heyman family’s roofing manufacturing fortune, inked a 10-year deal with landlord American Realty Advisors for 6,863 square feet at the 28-story office tower on the corner of Park Avenue and East 59th Street. 

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The lease marks a relocation for Heyman, which will move three blocks from nearby 667 Madison Avenue to its new home on part of the 17th floor of 499 Park. The asking rent was $125 per square foot, according to a source close to the deal.

The Heyman Enterprise was established in 2012 to manage the family wealth of the late Samuel J. Heyman, the American businessman known for his chairmanship of the GAF Corporation, North America’s largest manufacturer of roofing materials. 

Heyman will now reside in 499 Park alongside other financial sector tenants, including German bank Deutsche Bundesbank and investment manager Empyrean Capital Partners. The tower also houses the nonprofit Cantor Fitzgerald Relief Fund.

Newmark’s Brian Waterman and David Waterman represented Heyman in its new deal, while CBRE‘s Paul Amrich, Neil King, James Ackerson and Matthew Dichter negotiated on behalf of the landlord.

The brokerage teams at Newmark and CBRE did not immediately respond to requests for comment.

Emily Davis can be reached at edavis@commercialobserver.com.