A financial services firm has signed a three-floor lease at Park Avenue Tower, the 36-story building owned by Blackstone Group subsidiary EQ Office.
PineBridge Investments, a global asset manager, will take 57,000 square feet of space across floors five through seven, according to the New York Post. The firm is moving its headquarters to the building and breaking its lease at Boston Properties’ 399 Park Avenue, where it had not finished its contract.
Newmark represented the landlord in the deal, while Savills Studley represented the tenant.
EQ Office recently finished a $25 million renovation of the 625,000-square-foot building, which started in 2016. The firm bought the tower in 2014 for $750 million.
PineBridge will take the floors above financial services broker-dealer BTIG Partners, which signed a 15-year lease for floors two through four last August. [NYP] — David Jeans