HC Wainwright, an investment bank focusing on corporate finance and strategy, is relocating its offices to 430 Park Avenue in a 16,400-square-foot, two-year sublease. The 19-story Midtown East office tower is owned by Midwood Properties and the new tenant will have the option to stay after the current sublease expires. HC Wainwright had formerly been located at 570 Lexington Avenue.
“HC Wainwright was looking to expand into a space that it could reformat to its precise specifications, and 430 Park was perfect,” Corey Abdo, a broker at EVO Real Estate Group, said in a statement. ”The space is already bifurcated, allowing HCW to separate its bankers, traders and research staff, according to SEC regulations.”
Abdo handled the transaction for HC Wainwright, while Dana Pike of George Comfort & Sons represented the sub-landlord, who was not disclosed, Crain’s reported.
The new lease is one of the first since the Frank Lloyd Wright-designed showroom on the ground floor, which had been leased by Mercedes-Benz since the 1950’s, was demolished, according to Crain’s. [Crain’s] –Christopher Cameron