Investment Manager Woodline Partners Takes 20K SF at Paramount’s 712 Fifth Avenue

Woodline Partners, a San Francisco-based investment manager, is relocating its New York City offices to Paramount Group’s 712 Fifth Avenue, taking 19,500 square feet across the building’s entire 43rd and 44th floors, Commercial Observer has learned.

The lease is for 15 years, and asking rent for the office tower is between $170 and $180 per square foot, according to a source close to the deal. 

Woodline is relocating a distance of 0.3 mile from 1330 Sixth Avenue, the source noted. The Sixth Avenue address is still listed on the company website, so it is unclear when the company will make the move. Woodline did not immediately respond to a request for comment. 

The landlord was represented by Newmark‘s David Falk, Peter Shimkin, Jason Greenstein, Matt Leon and Paige Raisides. Newmark declined to comment. The tenant was represented by CBRE’s Ben Friedland, Gary Davies and Owen Reda. CBRE did not immediately respond to a request for comment. 

Standing at 52 stories high, 712 Fifth Avenue is a Class A office property at the corner of Fifth Avenue and West 56th Street in Midtown Manhattan. It features 86,000 square feet of retail space, views of Central Park, and amenities including a business lounge and wellness center. 

Other tenants at 712 Fifth Avenue include investment firm Ready State Asset Management, nonprofit Jonathan M Tisch Family Foundation, and private wealth management firm Linbrook Capital. 

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