Investment firm inks 12-year lease at Fisher Brothers’ 299 Park Avenue

Asking rent was $95 per sf

TRD New York /
Oct.October 11, 2018 05:00 PM

299 Park Avenue (Credit: Brett Beyer)

Investment firm One William Street Capital Management just inked a 12-year lease for new digs at Fisher Brothers’ 299 Park Avenue.

The firm is taking just under 30,000 square feet — the entire 25th floor — in the 1.2 million-square-foot tower, representatives for the landlord told The Real Deal on Thursday. The company is moving from its current office at Vornado Realty Trust’s 1290 Sixth Avenue, where it subleases the 34th floor from law firm Bryan Cave.

Asking rent for the new office was $95 per square foot, according to industry sources.

The move comes as the landlord gets ready to begin a $20 million capital improvement project at the building. The overhaul will focus on the tower’s lobby and entrance, which will be reimagined by architect David Rockwell.

Since announcing the renovation, Fisher Brothers has signed 230,000 square feet in new leases in the building, according to the landlord. In July, private equity firm GoldPoint Partners agreed to take nearly 30,000 square feet on the tower’s 37th floor.

In the latest deal at the building, CBRE’s Scott Gottlieb, Andrew Sussman and Benjamin Friedland represented One William Street Capital. Fisher Brothers was represented in-house by Marc Packman and Charles Laginestra, along with Newmark Knight Frank’s David Falk, Peter Shimkin, Andrew Sachs, Eric Cagner and Andrew Peretz.

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