Eyal Ofer’s Global Holdings Signs 99 Park Avenue Lease

Eyal Ofer’s $30 million repositioning of 99 Park Avenue has yielded another big lease.

Ofer’s Global Holdings signed the wealth management firm Cerity Partners to just shy of 49,000 square feet at the 26-story Midtown office tower.

Cerity, which has more than $130 billion of assets under management, had been a subtenant on the 16th floor and expanded via a direct deal with the landlord.

Global Holdings said it has signed more than 300,000 square feet worth of deals at 99 Park since announcing a $30 million repositioning earlier this year. It is currently 98 percent occupied.

“Our investment in a transformative renovation has positioned 99 Park as one of the most sought-after addresses near Grand Central Station, and the building’s strong leasing activity this year reflects that success,” said leasing director Craig Panzirer, who negotiated the deal along with a JLL team led by Paul Glickman and Diana Biasott.

Cerity Partners was represented by Nicholas Dysenchuk and Rob Lowe of Cushman & Wakefield.

Global Holdings has been significantly upgrading the 1950s-era, 600,000-square-foot office building just south of Grand Central between East 39th and 40th streets. This included a redesigned facade, and amenities such as a speakeasy, golf simulator and conference center. The renovation is expected to be completed next year.

Earlier this year, the landlord signed Amalgamated Bank to a 15-year lease in a relocation from its longtime headquarters at 275 Seventh Avenue. The 94,000-square-foot deal included space on the ground floor for a private entrance lobby.

Other recent deals at 99 Park include the strategic advisory firm Geller & Company, international children’s apparel company Garan, wealth-management firm Steward Partners and Metropolitan Bank.

Geller signed its lease for 45,000 square feet in March, relocating from 909 Third Avenue. That same month, Garan doubled its space at the building.

The area around Grand Central has been one of the tightest office submarkets in the city in recent years. The availability rate was 13.6 percent in the third quarter, according to Savills.