Fisher Brothers announced today that it has finalized an agreement with General Atlantic Service Company to expand the firm’s footprint to 93,542 s/f at Park Avenue Plaza, its Plaza District tower.
Established in 1980, General Atlantic is a growth equity firm with 14 offices around the world that provide capital and strategic support for growing companies.
A tenant at Park Avenue Plaza since 2007, the firm currently occupies 62,340 s/f across the entire 32nd and 33rd floors as its global headquarters.
Under the terms of the expansion, General Atlantic’s office will grow to include all 31,202 s/f on the 31st floor of the tower beginning in July 2020. The expansion will run concurrently with General Atlantic’s initial lease, keeping the firm’s headquarters at the tower until 2039.
“General Atlantic’s strategic approach to global growth equity has yielded superior results for its clients, and we are pleased to accommodate their expansion at Park Avenue Plaza,” said Fisher Brothers Partner Winston Fisher. “As the Plaza District’s premier address, Park Avenue Plaza continues to serve as the global headquarters of top-tier financial firms that seek an exclusive office environment in the heart of Midtown.”
Last year, Fisher Brothers signed similar headquarters expansion agreements at Park Avenue Plaza with Evercore and Duff & Phelps, two blue-chip advisory firms.
Evercore expanded its total footprint at the tower to 350,000 s/f and extended its lease through 2034, while Duff & Phelps signed a 91,019 s/f direct lease with Fisher Brothers, after subleasing 62,413 s/f at the tower since 2007.
Other notable financial firms on the tower’s tenant roster include Court Square Capital Partners, Intercontinental Exchange and Morgan Stanley.
General Atlantic was represented in the transaction by Robert Martin of JLL. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel.
Fisher Brothers completed a $35 million renovation and redesign of Park Avenue Plaza’s 13,000 s/f public-access, through-block arcade in 2016 as part of its portfolio-wide asset renewal program to reimagine and modernize its office towers.
Working with architecture and interior design firm Janson Goldstein, Fisher Brothers created a light-filled setting that features a dramatic sense of scale with 30-foot glass columns and LED lighting.
Designed by Skidmore, Owings & Merrill and completed in 1981, Park Avenue Plaza, located at 55 East 52nd Street, has earned LEED Platinum certification.