The Real Deal New York

Tech company takes more space at 90 Park Avenue

FactSet Research re-ups at Vornado building, adding 40,000 sf to Midtown office

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