Global Holdings Signs HQ Deal in Manhattan
A financial services firm is moving to the developer's Midtown office tower.
Geller & Co., a financial services and strategic advisory firm, is relocating its headquarters to 99 Park Ave. in Midtown Manhattan. The firm signed a 45,290-square-foot lease with Global Holdings, the owner of the 26-story office tower.
Geller & Co. has agreed to occupy a portion of the ninth floor and the entirety of the 10th floor at the 600,000-square-foot property. The company will be moving from 909 Third Ave., bringing its employees closer to public transit hubs like Grand Central Terminal. Penn Station is also just under a mile from the building.
The office tower is currently undergoing a $30 million capital improvement program. Plans include a new lobby area, a conference center, a fitness center, a lounge, as well as a golf simulator and speakeasy. Designed by VOCON, the renovation is scheduled for completion in 2026.
Under the terms of the agreement, Geller & Co. will maintain its headquarters at 99 Park Ave. for at least the next 11 years. Bryan Boisi of Cushman & Wakefield and Stuart Romanoff of Romanoff Realty Services LLC represented the firm in the transaction. Craig Panzirer and Alex Radmin of Global Holdings, along with Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter from JLL represented Global Holdings.
The office space at 99 Park Ave. is seeing a rise in tenant demand as the renovation program advances. Most recently, Garan Inc. extended its lease in the building, raising its occupancy from 31,663 square feet to more than 63,000 square feet. With the signing of the Geller & Co. agreement, the property is now 85 percent leased.
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