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

Investment bank is relocating from 445 Park Ave.

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

AEW Capital Management’s Jeffrey Furber and 250 Park Avenue (Credit: 250 Park)

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)

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