NEW YORK CITY- Piper Jaffray & Co. has signed a 10-year direct lease for 64,821 square feet at Rudin Management Co.’s 345 Park Ave. It’s one of the bigger relocations in Midtown so far this year; the investment banking firm is moving uptown from two smaller locations in Midtown.
The new lease at 345 Park covers part of the 1.8-million-square-foot office tower’s 11th floor and the entire 12th floor. At present, Piper Jaffray occupies space on the 33rd floor of 245 Park Ave. and the 35th floor of 150 E. 42nd St.
Lisa Kiell, managing director of Jones Lang LaSalle, says in a release that Piper Jaffray sought to consolidate into one site. She says 345 Park “was ideal for Piper Jaffray, given its great views of Midtown and superior service.“
Kiell, represented Piper Jaffray along with colleagues Barbara Winter and David Kleiner, both SVPs with JLL’s New York office. Rudin was represented in-house by SVP Tom Keating. Financial terms were not disclosed. The deal was first reported in mid-May by the New York Post.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.