655 Third Ave.
NEW YORK CITY—Fintech firm Abacus Group is nearly doubling its headquarters office space at the Durst Organization's 655 Third Ave. office tower here.
Abacus Group, which provides IT services and cloud computing solutions to the alternative investment industry, has signed a lease renewal totaling more than 13,000 square feet at the 30-story, 425,000-square-foot office building. The deal was brokered by Savills Studley and The Durst Organization.
The company has occupied its current space encompassing 7,015 square feet at 655 Third Ave. for the last five years, during which time its New York-based headcount has nearly doubled. Founded in San Francisco in 2008, Abacus has grown into a global IT services firm, with seven offices across the U.S. and a Europe division based in London. The New York headquarters is the company's largest office.
“We identified contiguous, off-market space, and were able to create an expansion opportunity that was timed perfectly with Abacus Group's growth plans,” says Savills Studley senior managing director Zev Holzman, who represented Abacus alongside members of Savills Studley's Integrated Consulting Strategies practice. “The landlord will turnkey the space to seamlessly blend into Abacus's existing offices, creating the perfect home for the company's expansion,” he notes.
Renovations are currently underway with construction expected to be complete by the end of 2018. The new space will provide the company with break-out rooms, a client-focused conference room, increased storage space, more private offices and almost double the number of desks in an open-concept design.
“With our significant growth comes the need for a larger physical space for our most important assets—our employees—to call home during their workday,” said Abacus CFO Jonathan Bohrer. “Our New York headquarters is the face of our company to the financial services community, and we are pleased with the new design that will serve our staff and clients well into the future.”
In addition to its headquarters, the company also maintains offices in New San Francisco; Boston; Dallas; Greenwich, CT; Los Angeles; Charlotte, NC and London, England.
Earlier this year, Abacus completed an expansion of its London office. This month, its software development team in Charlotte, NC, moved into a new space that doubles its work capacity there.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
