Lance Leighton
Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson
The Workplace is Still Showing Signs of Life and Recovery in New York City
In a market full of uncertainty, there is a looming thought amongst many contrarians that the “office is dead”. However, despite this belief, New York City has seen major momentum in office leasing during the course of 2021. Though many new leases were inked by smaller/boutique tenants in prime/trophy office buildings (which is a testament to the flight to quality concept), a notable number of hedge funds, private equity firms, investment banks and FinTech companies have committed/relocated to and renewed for larger workspaces for the foreseeable future.
Below are the 30 Top Office Space Leases signed in NYC during 2021.
| Company Name | Address | Square Footage | Type of Lease |
|---|---|---|---|
| Chubb | 550 Madison Avenue | +/- 240,000 sf | Relocation |
| Credit Agricole | 1301 Avenue of the Americas | +/- 170,000 sf | Renewal |
| Houlihan Lokey | 245 Park Avenue | +/- 150,000 sf | Renewal |
| AXA Group | 1345 Avenue of the Americas | +/- 122,000 sf | Relocation |
| Jennison Associates | 55 East 52nd Street | +/- 120,000 sf | Relocation |
| Wells Fargo | 100 Park Avenue | +/- 103,000 sf | Renewal |
| Stone Ridge Asset Managaement | 1 Vanderbilt | +/- 97,000 sf | Relocation |
| Haven Life | 2 Park Avenue | +/- 96,000 sf | Relocation |
| CIBC | 300 Madison Avenue | +/- 96,000 sf | Relocation |
| Blackstone | 345 Park Avenue | +/- 80,000 sf | Expansion |
| ICapital Network | 60 East 42nd Street | +/- 65,000 sf | Expansion |
| Berenberg Bank AG | 1251 Avenue of the Americas | +/- 61,000 sf | Expansion |
| One Rock Capital Partners | 630 Fifth Avenue | +/- 55,000 sf | Relocation |
| New York Life | 120 Broadway | +/- 54,000 sf | Renewal |
| Owl Rock Capital | 399 Park Avenue | +/- 49,000 sf | Renewal |
| Robinhood | 413-435 West 14th Street | +/- 49,000 sf | Relocation |
| Arch Insurance Group | 1114 Avenue of the Americas | +/- 44,500 sf | Relocation |
| Lindsay Goldberg | 630 Fifth Avenue | +/- 44,000 sf | Renewal |
| Bregal Investments | 200 Park Avenue | +/- 44,000 sf | Relocation |
| TCW Group | 1251 Avenue of the Americas | +/- 43,000 sf | Renewal |
| SVP Leerink Holdings | 1301 Avenue of the Americas | +/- 41,000 sf | Expansion |
| Court Square Capital Partners | 299 Park Avenue | +/- 40,400 sf | Relocation |
| William Blair & Co. | 1166 Avenue of the Americas | +/- 40,200 sf | Expansion |
| Ares Management | 245 Park Avenue | +/- 38,500 sf | Renewal |
| Marshall Wace | 350 Park Avenue | +/- 38,000 sf | Renewal |
| MSD Capital | One Vanderbilt | +/- 36,000 sf | Relocation |
| Man Group | 1345 Avenue of the Americas | +/- 34,000 sf | Relocation |
| Antin Infrastructure Partners | 1114 Avenue of the Americas | +/- 32,000 sf | Relocation |
| Zweig-DiMenna | 900 Third Avenue | +/- 31,000 sf | Relocation |
| Morse Towey and White Group | 300 Madison Avenue | +/- 30,000 sf | Relocation |
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