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.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.