Financial data company FactSet Research has renewed its lease and expanded its 90 Park Avenue spread by 40,000 square feet.
The 15-year lease extension with landlord Vornado Realty Trust gives the firm a total of 160,000 square feet on the seventh, 10th and 11th floors of the 41-story building.
Previously, the company’s space was scattered throughout the structure, according to Crain’s.
The deal comes amid a $30 million renovation of the 1 million-square-foot tower’s lobby. Vornado also recently re-did the lobby at 1290 Sixth Avenue, and subsequently leased most of the building’s vacant space, according to the article.
“A lobby can define a building’s aesthetic and tenants really react to and appreciate a new beautiful entrance,” Glen Weiss, Vornado’s director of leasing, told Crain’s. “We got a great response at 1290 Sixth Ave. and at 90 Park Ave.”
FactSet will pay in the $60s per square foot, according to Crain’s. Joe Cabrera of Colliers International represented the tenant in the deal, while Josh Glick and Andrew Ackerman represented Vornado in-house. [Crain’s] — Angela Hunt