An investment firm and a design consulting firm will relocate to 475 Fifth Avenue between East 40th and East 41st Streets near Bryant Park, Commercial Observer has learned.
Stantec Consulting Services inked a 32,000-square-foot deal for the entire seventh and eighth floors of the 24-story building. It is currently at 50 West 23rd Street between Fifth Avenue and Avenue of the Americas where it also occupies the seventh and eighth floor.
Stantec was represented by Steven Rotter, Brian Connolly and Justin Haber of JLL, who did not immediately respond to a request for comment. Asking rent in the 10-year deal was $79 per square foot, according to Brian Waterman of Newmark Grubb Knight Frank, who represented the landlord TIAA in both deals with his colleagues Scott Klau and Erik Harris.
In the other deal, Kylin Management will expand its footprint by relocating to 15,400 square feet on the entire 11th floor of the same building. Asking rent in the 10-year deal was $84 per square foot. The investment firm currently occupies 5,928 square foot on the 16th floor of 366 Madison Avenue between East 45th and East 46th Streets, in the same neighborhood as its new space.
Daniel Posy and Jason Roberts of Savills Studley who represented Kylin Management declined to comment.Two Firms Taking 47,400 Square Feet Total at TIAA Bryant Park Building
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