The Real Deal New York

Simons Foundation leases 125K sf at ABS Partners’ 162 Fifth

Charity headquartered across the street
May 09, 2016 10:30AM

Earle Altman, 162 Fifth Avenue and James Harris Simons

Earle Altman, 162 Fifth Avenue and James Harris Simons

A charitable organization focused on scientific research will expand its footprint in the Flatiron District.

The Simons Foundation, founded by mathematician and hedge funder James Harris Simons and his wife Marilyn, will take the entire office portion of the 11-story 162 Fifth Avenue, owned by ABS Partners Real Estate, signing a long-term with the landlord this week for about 125,000 square feet, the Wall Street Journal reported.

The foundation – headquartered across the street at 160 Fifth Avenue – plans to renovate the entire space, as well as the building’s lobby.

Cushman & Wakefield’s Peter Hennessy represented Simons in the negotiations. James Caseley represented ABS Partners in house.

The property, built in 1930, also has a 9,500 retail space at its base, currently occupied by a Chase bank branch. [WSJ]Ariel Stulberg