Equitable Life Insurance is moving its New York office by three blocks.
The financial company will take 130,000 square feet at Fisher Brothers’ 1345 Avenue of the Americas, Commercial Observer reported. It will vacate its current location at 1290 Sixth Avenue, a 43-story office tower owned by Vornado Realty Trust and the Trump Organization, Commercial Observer reported.
Equitable will move into its new office in 2023. The exact length of the new lease was not disclosed, although it was “long-term,” the outlet reported.
Equitable’s move could affect the valuation of the 1290 Avenue of the Americas, which Vornado reportedly sought to sell or refinance, along with 555 California Street in San Francisco, which it also owns jointly with Trump.
At Fisher Brothers’ tower, Equitable will join a host of other major tenants, such as Global Infrastructure Partners, Fortress Investment Group, law firm Linklaters and General Motors.
[CO] — Akiko Matsuda