The Real Deal New York

Financial firm leases 29K sf at 299 Park

Asking rent on 10-year lease was for $95 a foot
March 23, 2018 08:30AM

299 Park Avenue (Credit: Wikimedia/Urbanrenewal)

B. Riley, a financial firm, has inked a 29,000-square-foot lease for the entire 21st floor at 299 Park Avenue, a Fisher Brothers building.

The lease is for 10 years, and asking rent was $95 per square foot, according to the Commercial Observer. The firm currently leases 28,000 square feet of space on the building’s seventh floor and should move into its new office in August.

Justin Pollner and Jared Horowitz of Newmark Knight Frank represented B. Riley, while Marc Packman and Charles Laginestra were in-house representatives for Fisher Brothers.

The 299 Park Avenue building is now more than 90 percent leased, with other tenants including commodities trader Traxys Group, asset manager Varagon Capital and hedge fund King Street Capital Management. Fisher Brothers will launch a $20 million renovation at the building later in the year. [CO]Eddie Small