Asset manager relocates to 31,000 s/f on E52nd.In a transaction that meets the firm's dual objectives of situating on one entire floor with ample room to expand, Fairfield Greenwich Group, a leading New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based alternative asset manager, will relocate its headquarters to 31,000 s/f on the 33rd floor of 55 East 52nd Street. Studley exclusively represented Fairfield in the 16-year sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. with AON. Studley's Marc Shapses, senior managing director, and Jason Schwartzenberg, assistant director, who have been advising Fairfield for the past two years, are also currently involved in the disposition of Fairfield's former 20,000 s/f of space on two floors (11 and 39) at 919 Third Avenue. Said Schwartenberg, "After having operated on two floors, in two different elevator banks on Third Avenue--comprised of 12,000 and 8,000 square feet respectively--the company is looking forward to functioning much more efficiently on a single level with plenty of room to grow." "Three floors were available at AON's space at 55 East 52nd Street," said Shapses, "and there was stiff competition to sign a tenant who would occupy multiple floors. But we were aggressive and ultimately successful in coming to terms with AON, pointing out that our creditworthy cred·it·wor·thy adj. Having an acceptable credit rating. cred  it·wor tenant, poised to move in immediately
and willing to commit for the long-term, was the best option for the
33rd floor."
Fifty-five East 52nd Street, owned by Fisher Brothers, offers panoramic views of the city and the East River. AON's installation on the 33rd floor is virtually turnkey space, technologically equipped, with an extremely high-end build-out. Fairfield will move into its new headquarters this summer. Kenneth Rapp, Timothy Dempsey, Kris Mansfield, and David Kleinhandler of CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) acted on behalf of AON in negotiating the sublease. Also known as Park Avenue Plaza, the 44-story, 1.06-million-square-foot East 52nd Street property is home to an impressive roster of major financial and corporate tenants including Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. , ABN Amro ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) , as well as AON. Michael Samuels Esq. of DLA Piper DLA Piper (known until 4 September 2006 as DLA Piper Rudnick Gray Cary) is the third largest law firm in the world by number of attorneys after Clifford Chance and Baker & McKenzie. represented Fairfield Greenwich Group, while Alan Kramer, Esq. of Alan T. Kramer PC. represented AON. |
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