Lindbrook Capital, a Los Angeles-based wealth management firm, has signed for its first New York City office at a high floor at 712 Fifth Ave.
“We focused on space in a building that would best reflect the stature of this firm and its client base,” said Cresa Vice President Nicholas Markel, who arranged the lease. “Their choice to open a satellite location here is also a testament to New York’s continued position as a global hub for financial service firms.”
The Class A, 50-story skyscraper, designed by SLCE Architects and Kohn Pedersen Fox Associates, was competed in 1990. It incorporates the original landmark-designated Coty Building base at 714 Fifth Ave. and the Rizzoli Bookstore building at 712 Fifth Ave. It features 9,800-square-foot floorplates and a recently renovated lobby.
Added Peter Sabesan, managing principal, Cresa, “We are increasingly seeing companies based in other primary markets like Los Angeles, Chicago and Houston, open additional offices in New York. It is a great reflection on the economy and the optimism of a wide swath of business sectors.”
Lindbrook Capital plans to move into its newly built-out, 2,680-square-foot office by June 2022. Building owner Paramount Group was represented by an in-house team, comprising Peter Brindley, Douglas R. Neye and Sean Kirk. The asking rent for the space was $125 per square foot.
