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Investment Manager Renews Top-Floor Lease at 499 Park Ave.

Cushman & Wakefield has arranged a long-term 5,553-square-foot lease extension for Empyrean Capital Partners at 499 Park Ave. in Midtown Manhattan. The investment manager will continue occupying the entire 28th floor.

A Cushman & Wakefield team of David Hoffman and Sam Hoffman represented the tenant. A CBRE team led by Paul Amrich provides agency leasing at the property.

“The 28th floor at 499 Park Ave. offers Empyrean a unique combination of efficiency, privacy and beautiful views,” said David Hoffman. “The property’s prime location made it the ideal choice.”

Located in the Plaza District, 499 Park Avenue is on the northeast corner of 59th Street and was designed by I.M. Pei. The 28-story, all glass windowed building offers convenient access to numerous dining and high-end shopping options, boutique hotels and public transportation.

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Cushman & Wakefield's David Hoffman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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