There’s No Place Like Home for Private Equity Firm

Boston Properties;’ 767 Fifth Ave. office building totals 1.8 million square feet.

NEW YORK CITY—After conducting a city-wide search for new headquarters office space, private equity firm J.C. Flowers & Co. LLC has decided to remain exactly where it is at Boston Properties’ 767 Fifth Ave. building.

JCF has been subleasing 19,000 square feet across a portion of the 23rd floor of the 59-story, 1.8-million-square-foot General Motors building. The firm hired commercial brokerage firm Savills, who engaged in an office search that included new buildings Downtown and along the West Side, but in the end the private equity firm decided to engage in a direct lease for the same space it currently occupies under the sublease arrangement.