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Credit Suisse First Boston Leases 1.4 Mil SF at MetLife HQ

NEW YORK CITY-MetLife will keep 500 employees at the building, which will remains its corporate headquarters. CSFB will occupy all but 260,000 sf, which will be leased back to the insurance and financial services firm.

By John Howe | Updated on January 25, 2001

NEW YORK CITY-Credit Suisse First Boston is taking 1.4 million sf of space in One Madison Avenue, the corporate headquarters of MetLife. The entire building is being leased to CSFB, which will lease back 260,000 sf to MetLife. The insurance and financial services firm will continue to use the facility, which consists of a 12-story main building and a 41-story tower, as its corporate headquarters. Approximately MetLife 500 employees will continue working on the 11th floor of the main building and on the 10th through the 41st floors of the tower. Terms were not disclosed.

MetLife will continue occupying its current facilities in the city but is searching for new locations to house the employees who will be displaced by this transaction. CSFB will begin moving in this March and occupy the balance of the space by October 2003.

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