The Real Deal New York

Schroders takes 74K sf at 7 Bryant Park

Bank of China bought the 30-story tower for $600M last year

May 31, 2016 09:02AM

7 Bryant Park and a bank of China location

7 Bryant Park and a bank of China location

The U.S.-based arm of global financial services firm Schroders is set to move to Bank of China’s 7 Bryant Park in Midtown.

Schroders Investment Management North America signed a 15-year lease to take the 17th through 21st floors, and part of the 16th floor, for a total of 74,000 square feet, the New York Post reported.

Asking rent for the space was reportedly above $100 per square foot. Mary Ann Tighe and Howard Fiddle of CBRE represented Bank of China in the deal, while Stuart Eisenkraft represented Schroder.

Schroders is leaving its offices at 875 Third Avenue in 2017.

Houston-based developer Hines built the 450,000-square-foot 7 Bryant Park along with JPMorgan’s asset management arm. Bank of China, originally the building’s anchor tenant, decided to buy the property last year for $600 million. The bank occupies 250,000 square feet there. Hines remains the property and asset manager. [NYP]Ariel Stulberg

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