Berkley Insurance, the principal reinsurance subsidiary of the W.R. Berkley insurance firm, expanded and took an entire floor at 375 Park Avenue.
The firm has been steadily growing and has expanded to occupy 18,214 s/f in the building. Jeffrey Sussman, of Property Group Partners, represented Berkley in the expansion.
Private equity investment firm Clayton, Dubilier & Rice Holdings, L.P. (CDR) has also signed a lease to expand its office space at 375 Park Avenue. CDR, which has offices in New York and London, will grow by 4,746 s/f, and will now occupy just over 39,000 s/f in the building.
The firm was represented in the lease expansion by Clyde Reetz of CBRE and has been located at 375 Park Avenue for approximately 11 years. In 2012, CDR renewed and expanded on a long-term basis to occupy two full floors.
Lastly, investment management firm Strategic Value Partners signed a new lease for 3,684 s/f of space at the building. The firm was represented in the lease by Brian Goldman at Newmark Grubb Knight Frank.
These leases bring the building to over 95 percent occupied. “375 Park Avenue continues to attract and maintain a strong base of leading global financial firms,” said AJ Camhi, senior vice president and Director of Leasing at RFR.
Camhi and RFR president Gregg Popkin represented RFR in-house in the leases, along with a leasing team led by Mitchell E. Konsker and Matthew Astrachan from JLL.