One of MassMutual’s sales offices is moving to a new home on Park Avenue.
The insurance and financial services company is relocating the office to 90 Park Avenue from 530 Fifth Avenue, Crain’s New York reported. The new lease totals about 46,000 square feet, taking up most of the 17th and 18th floors in the nearly 1-million-square-foot tower.
The firm chose the building in part because of the owner Vornado Realty Trust’s recent $80 million renovation, sources told Crain’s. Asking rents at the tower are in the mid-$80s per square foot.
Wealth management firm Lenox Advisors, which sells MassMutual products, shared a space at the Fifth Avenue location. Lenox is also moving to 90 Park Avenue, taking 6,000 square feet on the 17th floor. The companies will move to the new space by the end of next year.
CBRE represented MassMutual and Lenox in the deal. Vornado was represented in-house by Andrew Ackerman and Ryan Levy.