Savills today announced that it represented K2 Integrity (K2) in a 39,968-square-foot sublease at 730 Third Avenue. The leading risk, compliance, investigations, and monitoring firm is relocating from three non-contiguous floors at 845 Third Avenue to the repositioned property, which recently underwent an extensive $120 million renovation.
At 730 Third Avenue, K2 will be housed across a full-floor, state-of-the-art turkey space on the ninth floor. The space was previously leased but never occupied by TIAA, which is still headquartered at the property occupying the base floors of the building.
“It was no secret that the COVID-19 pandemic significantly impacted the sublease market as there was an influx of inventory. However, while options were plenty, high quality, move-in ready sublease spaces were rare,” said David Carlos, executive managing director. “After a thorough search, we identified the ’needle in the haystack’, and swiftly negotiated a favorable deal to relocate K2 and its employees to Third Avenue’s premier building.”
K2 has grown substantially over the years. Carlos first represented the company in a 7,000-square-foot sub-sublease at 599 Lexington Avenue in 2010. The firm’s recent acquisition of Financial Integrity Network (FIN) expanded its service lines and headcount which required a new workplace strategy. At 730 Third Avenue, the company will be able to account for anticipated headcount growth, while providing current employees with a collaborative and connected work environment in a fully refurbished building with the latest amenities.
“David Carlos and the entire Savills team spent many hours understanding K2 Integrity’s needs as it relates to our partners, employees, clients, and advisors. The space David and his team mined for us exceeded our expectations,” said Andrew Rabinowitz, co-CEO of K2 Integrity. “It provides our firm with an ESG friendly environment that includes all of the amenities we required. Additionally, we believe having our entire firm on one floor allows our team the ability to collaborate and build long standing relationships.”
K2 was represented by Carlos and Andrew Dzenis; TIAA, the sublessor, was represented by Scott Vinett at JLL. K2’s sublease runs through 2035.
K2 Integrity is the premier risk advisory firm. Clients rely on its interdisciplinary teams that are supported by cutting-edge technology to safeguard their operations, reputations, and economic security. From strategy to execution, they work with clients to deliver customized end-to-end solutions. The firm understands the complex issues clients face because its expert leadership consists of former senior government advisors, regulators, compliance officers, lawyers, academics, accountants, investigators, and consultants.
In 2021, Nuveen Real Estate and development advisor Taconic Partners launched a $120 million repositioning campaign and enlisted Gensler to reimagine 730 Third Avenue into a Class A office and retail destination. The building has since been updated to include a double height lobby; as well as a second-floor tenant amenity space that features a 6,000-square-foot sky lounge, 8,000-square-foot fitness center, 5,000-square-foot conference center and 9,000-square-foot food hall. On the 22nd floor, tenants have access to a 7,000-square-foot terrace with 360-degree views of New York City. Additionally, 1,100 smart windows have been installed at the property, allowing it to maintain its LEED Gold Certification and achieve significant energy reductions.