HS Management Partners will be relocating its corporate headquarters to a larger space at 640 Fifth Avenue at the northwest corner of West 51st Street and Fifth Avenue, Commercial Observer has learned.
The 100 percent employee-owned investment adviser has signed a 10-year deal for 10,523 square feet on the 18th floor in the 22-story Vornado Realty Trust building, according to Savills Studley, which advised HS Management Partners on the transaction. Asking rents ranged from $110 to $115 per square foot.
HS Management Partners is expected to move from its current 5,620-square-foot digs at 598 Madison Avenue off of East 57th Street at the end of 2015.
Savills Studley’s Paul Revson, Zev Holzman and Chase Gordon secured the off-market space on behalf of the financial services firm.
“640 Fifth Avenue offered the rare opportunity for HS Management Partners to move into an existing build-out within the prestigious Fifth Avenue corridor,” Mr. Revson said in prepared remarks...Investment Advisory Firm Relocating to 640 Fifth Avenue
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