Needham & Co. inks 29K sf lease at AEW’s 250 Park

Investment bank is relocating from 445 Park Ave.

New York /
Jun.June 15, 2017 12:15 PM

Investment banking firm Needham & Co. signed a lease for almost 30,000 square feet at AEW Capital Management’s 250 Park Avenue.

The company, currently headquartered at 445 Park Avenue TRData LogoTINY, inked an 11-year deal for 29,401 square feet, according to Cushman & Wakefield.

Cushman’s David Hoffman, who represented AEW along with colleagues Robert Billingsley and Whitnee Williams, said the building provided Needham with “close proximity to other financial industry leaders.”

Peter Goldich of Atco Brokerage Services negotiated on behalf of Needham & Co.

The deal brings the 21-story, 464,000-square-foot 250 Park to 98 percent occupancy.

AEW Capital last year bought a minority stake in Brookfield Property Partners’ One New York Plaza for $223.2 million, valuing the building at north of $1.4 billion. – Rich Bockmann

(To view more of Cushman & Wakefield’s office leasing transactions, click here)


Related Articles

arrow_forward_ios
The rise of e-commerce, fueled by the pandemic, has created unprecedented demand for cardboard-producing facilities. (iStock)
Cardboard demand could fuel an industrial real estate boom
Cardboard demand could fuel an industrial real estate boom
MSCI CEO Henry Fernandez and Real Capital Analytics founder Robert White (MSCI)
MSCI to acquire Real Capital Analytics for $950M
MSCI to acquire Real Capital Analytics for $950M
Donald Trump and the Trump International Hotel & Tower in Chicago (Getty, iStock)
Donald Trump is owed $1M tax refund on Chicago skyscraper
Donald Trump is owed $1M tax refund on Chicago skyscraper
From left: One WTC, Douglas Durst, Donald and Steven Newhouse (iStock, Getty)
Condé Nast pays back rent at One WTC, ending standoff with Durst
Condé Nast pays back rent at One WTC, ending standoff with Durst
Floor & Decor CEO Thomas Taylor and 4 Henry St in Commack (Floor & Decor and Google Maps)
Floor & Decor moving into site of shuttered Target in Commack
Floor & Decor moving into site of shuttered Target in Commack
Mayor Steven Fulop (Getty, iStock)
Jersey City to provide up to $10K more rent relief per tenant
Jersey City to provide up to $10K more rent relief per tenant
Atlas Hospitality Managing Member Raj Guru and Vinod Chand with 711 Seventh Avenue (Atlas, Google Maps)
Atlas plans 401-room hotel at 711 Seventh Avenue
Atlas plans 401-room hotel at 711 Seventh Avenue
Social Construct's co-founders Ben Huh and Michael Yarne (iStock)
Proptech startup Social Construct shutting down
Proptech startup Social Construct shutting down
arrow_forward_ios

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

Loading...