Nearwater Capital Exits One Vanderbilt for Redeveloped 245 Park Ave.

Specialty finance company Nearwater Capital is relocating from SL Green Realty Corp.’s One Vanderbilt into a 37,563-square-foot lease for the entire 28th floor at 245 Park Ave., SL Green’s newly redeveloped office tower adjacent to Grand Central Terminal.

Nearwater will relocate from approximately 17,000 square feet at One Vanderbilt, more than doubling its New York City office footprint to accommodate the company’s fast-paced growth. The move allows Nearwater to maintain a full-floor presence in a trophy Midtown tower while providing the quality of workplace, amenities and transportation access that will support its efforts to attract and retain top talent.

JLL Vice Chairman Alexander Chudnoff and EVP Harrison Potter represented Nearwate. SL Green was represented by Bruce Mosler, Tara Stacom, Ron LoRusso, Harry Blair, Justin Royce and Pierce Hance of Cushman & Wakefield, together with David Kaufman and Zach Freeman of SL Green.

“For companies competing at the highest level for talent, the office has become an increasingly important part of the equation,” said Chudnoff. “The redevelopment of 245 Park, its location at Grand Central and the opportunity to continue its relationship with SL Green made this the right fit.”