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Deals & Dealmakers

Asset management firm Schroder leases 73,796 s/f space at 7 Bryant Park

Bank of China has leased 73,796 s/f of space at its 7 Bryant Park tower to Schroder Investment Management North America Inc.

CBRE Group, Inc. represented both the landlord, Bank of China Group Investment, and the tenant in the office relocation to the newly built, 30-story office tower.

The location will become the firm’s North American headquarters.

CBRE’s Mary Ann Tighe, Howard Fiddle, Clyde Reetz, Evan Haskell, Ben Friedland, Adele Huang and Evan Fiddle represented Bank of China Group Investment in the transaction.

“The commitment by Schroders to make 7 Bryant Park its North American headquarters validates the office tower as one of the few true trophy buildings in the Bryant Park submarket,” said Howard Fiddle, CBRE vice chairman.

“We are excited about the prospects for the seven remaining floors at the top of the building.”

CBRE’s Stuart Eisenkraft, Jason Gorman and Munish Viralam represented Schroder Investment Management North America Inc., which is a subsidiary of global asset management firm Schroders plc, in leasing the partial 16th and entire 17th through 21st floors for a 15-year lease term.

The tenant will move from 875 Third Avenue in 2017.

“After thoroughly evaluating all potential opportunities in the marketplace, 7 Bryant Park achieved the perfect blend of Schroders’ financial, operational and qualitative criteria,” said Eisenkraft, CBRE vice chairman.

“7 Bryant Park represents the best of new construction that Midtown Manhattan has to offer, with all of the aesthetic and wellness benefits associated with being located at the doorstep of Bryant Park.”

The brand-new 7 Bryant Park was developed by Hines and designed by architect Henry N. Cobb of Pei Cobb Freed & Partners.

The Bank of China New York branch will occupy approximately 250,000 s/f in the steel-and-glass tower.

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