The Real Deal New York

Wealth management firm grabs two floors in Helmsley Building

Unit of Lebenthal Holdings signs on to take 43,000 square feet for six years

April 08, 2014 03:40PM

From left: chief executive and president of Lebenthal Holdings Alexandra Lebenthal, chief executive of Lebenthal Wealth Advisors Frank Campanale and 230 Park Avenue

From left: chief executive and president of Lebenthal Holdings Alexandra Lebenthal, chief executive of Lebenthal Wealth Advisors Frank Campanale and 230 Park Avenue

A wealth advisory firm has signed a contract to sublet more than 40,000 square feet of space at Invesco’s Helmsley Building above Grand Central Terminal.

Lebenthal Wealth Advisors, a division of Lebenthal Holdings, will lease the full 31st floor with 22,382 square feet and the full 32nd floor with 20,913 square feet at 230 Park Avenue from HSH Nordbank, according to a press release from commercial brokerage Cassidy Turley.

HSH Nordbank will relocate to the 34th floor, which has 17,406 square feet of newly renovated office space, according to the listing. The sublease expires in August of 2020.

Peter Occhi, Stephen Bellwood, Theadora Livadiotis and Emily Bush of Cassidy Turley represented Lebenthal, while Silvio Petriello and Nicolas Weld of CBRE represented HSH Nordbank.

“Our team was confident that demand for this renowned space would be strong and brokered a deal within six weeks,” Occhi, a managing director at Cassidy Turley, said in the release. The 34-story, 1.29 million-square-foot building between 45th and 46th streets is anchored by Dutch insurance giant ING, which also has 144,000 square feet on the 13th and 14th floors as of August last year, as previously reported. — Angela Hunt

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