The Real Deal New York

Millennium Management is ditching 666 Fifth for 399 Park

Company will lease 300K sf at Boston Properties’ Midtown building
By Eddie Small | December 27, 2018 09:30AM

399 Park Avenue and Israel Englander (Credit: Google Maps and Twitter)

Millennium Management is moving its New York headquarters from 666 Fifth Avenue to 399 Park Avenue.

The firm will lease 300,000 square feet across four floors of Boston Properties’ 41-story tower, located between East 53rd and East 54th Streets, landlord announced in a press release. Average asking rents in the Boston Properties-owned building are between $73 and $90 per square foot.

Millennium, the hedge fund for billionaire Israel Englander, had reportedly been looking to leave 666 Fifth Avenue for months because of the uncertainty surrounding the building. The property was a famed holding of Kushner Companies for months, but Brookfield Asset Management took it over in August. The New York Post first reported this summer that Millennium was in talks at 399 Park.Millennium plans to move into the Park Avenue tower in 2020. CBRE represented the landlord in the deal, according to Commercial Observer.

Private equity firm Trilantic Capital Partners was in talks earlier this year to take the entire top floor of 399 Park.