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JLL represented tow investment firms in relocating to Park Avenue Tower at 65 E. 55th St.

Asset Manager PineBridge Moves HQ to Park Avenue Tower

PineBridge Investments will relocate its global headquarters a couple of blocks up Park Ave. The global asset manager has agreed to a 15-year lease for 57,333 square feet at EQ Office’s Park Avenue Tower, with the move from nearby 399 Park Ave. slated for the fourth quarter.

The tenant, which had $89.6 billion in assets under management as of Dec. 31, was represented by Savills Studley’s Mitchell Steir, David Goldstein, Matthew Barlow and Nicholas Farmakis. EQ Office was represented in-house by Scott Silverstein and by an NKF team of Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman.

For PineBridge to be able to relocate without having to sublease its 399 Park space, the Savills Studley team engineered a creative solution. “The transaction enabled Moelis & Co to expand contiguously within 399 Park by taking over PineBridge’s space via a multi-party, phased, lease surrender,” said Goldstein.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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