Pzena Investment Management LLC (NYSE: PZN), a leading global investment management firm with $26 billion under management, signed an ‘under the radar’ lease deal for 36,996 square feet at 320 Park Ave. in New York City.
The 35-story, 730,000-square-foot Mutual of America Building was designed by Emery Roth & Sons in 1960, on three-quarters of an acre in Manhattan’s Plaza District submarket, between 50th and 51st Streets. Renovated in 1995 by Swanke Hayden Connell, the 4-Star office property offers ground-floor retail space and a host of tenant amenities, and has won numerous awards for building performance.
With asking rents ranging from the $70s to low $100s per square foot, the asset is considered one of the premier owner-occupied buildings in Midtown. Pzena will take occupancy in April 2015, joining Mutual of America, Mizuho Securities, Kelso & Company, Welsh Carson Anderson & Stowe, George Weiss Associates, and JPMorgan Chase.
Ken Ruderman, executive vice president and co-branch manager of Savills Studley represented the tenant. Frank Doyle, vice chairman, David Kleiner, executive vice president, and Dan Kollar, senior vice president with JLL represented the landlord, Mutual of America Life Insurance Company...Pzena Investment Mgmt Leases 37,000 SF at Mutual of America Bldg
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