Sterne Agee leases another floor at 277 Park

New York /
Mar.March 12, 2013 03:30 PM

Financial services company Sterne Agee has increased its New York office space at 277 Park Avenue by 50 percent, Crain’s reported. Stern Agee initially leased space at the 50-story tower in August 2011. It will now lease the building’s 26th floor for about 10 years. Rents in the building, which is largely occupied by JPMorgan Chase, are roughly in the $60s and $70s per square foot, Crain’s reported.

“At this point, we’re doing everything we can to grow,” William Holbrook, the chief operating officer of the Birmingham, Ala.-based firm, told Crain’s. “This opportunity came up and we took it.”

Although Holbrook declined to specify what type of staff the new space would house or whether the firm would grow further, last year the company announced it had reached a deal with Florida-based investment firm Meg Green & Associates to provide trading and other services.

Andrew Sachs of Cushman & Wakefield represented Stern Agee in the deal. In Other Park Avenue news, Norway’s $650 billion sovereign wealth fund bought a stake in a 292,061-square-foot office tower at 470 Park Avenue South in February, as previously reported. [Crain’s] –Hayley Kaplan


Related Articles

arrow_forward_ios
John Kilroy and the Indeed Tower (Getty, Page Southerland Page)
Kilroy Realty buying Indeed Tower in Austin for $580M
Kilroy Realty buying Indeed Tower in Austin for $580M
Josh Baumgarten (left) and Adam Schwartz, co-CEOs and co-Chief Investment Officers of Angelo Gordon with 2 Huntington Quadrangle, Melville, 6 and 8 Corporate Center Drive in Melville (Angelo Gordon, We're Group)
Angelo Gordon, We’re Group score $350M refi for Long Island offices
Angelo Gordon, We’re Group score $350M refi for Long Island offices
Brookfield Property Partners CEO Brian Kingston and 300 Vesey Street, at far left (Brookfield)
Brookfield scores $224M refi on Battery Park office tower
Brookfield scores $224M refi on Battery Park office tower
Chetrit Group principal Michael Chetrit and 850 Third Avenue (850thirdavenue)
CMBS loan for Chetrit’s 850 Third Avenue enters special servicing
CMBS loan for Chetrit’s 850 Third Avenue enters special servicing
From left: Bain Capital Credit's David DesPrez, SKW's Ayush Kapahi and Danny Wrublin with 111 Wall Street (Google Maps, Getty, Chance Yeh)
SKW Funding, Bain Capital in $1.3B JV for troubled debt
SKW Funding, Bain Capital in $1.3B JV for troubled debt
Mack-Cali Realty CEO Mahbod Nia and River Centre in Red Bank (Mack-Cali)
Mack-Cali offloads Red Bank office complex for $84M
Mack-Cali offloads Red Bank office complex for $84M
Nightingale’s Eli Schwartz and 111 Wall Street (Google Maps, Nightgale)
Nightingale, Wafra secure $500M loan package to revamp 111 Wall
Nightingale, Wafra secure $500M loan package to revamp 111 Wall
Coinbase CEO Brian Armstrong and 55 Hudson Yards (Getty, Godsfriendchuck/Wikimedia)
Coinbase opening first NYC office at 55 Hudson Yards
Coinbase opening first NYC office at 55 Hudson Yards
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...