Employee-owned investment advisors, HS Management Partners, LLC, will relocate its corporate headquarters to 640 Fifth Avenue.
Savills Studley advised the company on the 10-year, 10,523 s/f transaction. HS Management Partners is expected to move from its current 5,620 s/f location at 598 Madison Avenue at the end of 2015.
Savills Studley executive managing director Paul Revson, corporate managing director Zev Holzman and associate Chase Gordon secured the off-market, 18th floor space on behalf of the financial services firm.
Asking rents were in the $110 – $115 per square foot range.
Jared Solomon, vice president at Vornado Realty Trust, represented the landlord in-house.
“640 Fifth Avenue offered the rare opportunity for HS Management Partners to move into an existing build-out within the prestigious Fifth Avenue corridor,” said Revson.