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EOP Sews Up Third Lease at 1540 Broadway

NEW YORK CITY-Vontobel Asset Management will move into 18,380 sf at the property located at 44th Street and Broadway.

By Melissa Kress | Updated on January 22, 2007

NEW YORK CITY-Six months after acquiring 1540 Broadway, Equity Office Properties has finalized a third lease at the Times Square property. The new lease brings Vontobel Asset Management to the 1.1-million-sf office building.

Under the deal, Vontobel will occupy 18,380 sf for 10.5 years. The company expects to take the entire 38th floor when it relocates from its 10,000-sf space at 450 Park Ave in March. Rental rates were not released.

“The deal started out as a sublease transaction, but during negotiations the building was sold and the new owner took back the space,” says Jane Roundell, senior vice president at Cresa Partners, in a statement. “Subsequently, since Vontobel was still interested, we renegotiated a direct deal with the landlord.” Roundell and Scott Savin, senior vice president at Cresa Partners, repped Vontobel. Leasing director Joseph Artusa repped EOP.

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