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Insurer Takes 141,000 SF on Park Avenue

NEW YORK CITY—C. V. Starr will relocate from another Park Avenue address, where it currently subleases about 90,000 square feet

By Paul Bubny | Updated on October 19, 2009

NEW YORK CITY—C. V. Starr & Co., whose CEO is former AIG head Maurice Greenberg, is consolidating its Manhattan offices into 141,000 square feet of world headquarters space at 399 Park Ave. The investment and insurance firm is taking 120,000 square feet given up by Lehman Brothers, according to published reports.

A release from Cushman & Wakefield, which represented C.V. Starr in its search for new space, says the 399 deal is a long-term lease and that the tenant will occupy three full floors at 399 Park. A C&W spokesman tells GlobeSt.com he cannot divulge deal terms, but does say that C. V. Starr hopes to begin relocating employees into the new space next month.

Named for its founder, Cornelius Vander Starr, who also founded AIG, the company previously occupied a full floor at 399 Park, also the headquarters of Citigroup. It has subleased about 90,000 square feet at 90 Park Ave. since 2006.

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