Alternative credit asset manager 400 Capital Management LLC has signed a lease at Brookfield Properties’ 660 Fifth Ave. The firm will occupy 25,572 square feet on the 27th floor beginning August 2024. In relocating from its current office in Midtown, 400 Capital Management will more than double the size of its office footprint at 660 Fifth Avenue.
“Brookfield Properties’ investment to modernize 660 Fifth Avenue has created a world-class, reimagined commercial building in the heart of Midtown Manhattan, providing an unmatched opportunity for tenants when it comes to workplace experience and location,” said Duncan McCuaig, executive vice president-leasing, Brookfield Properties.
The lease announcement comes as Brookfield Properties nears completion of a $400 million redevelopment of the building. The redesigned tower features a brand-new lobby, elevators, state-of-the-art mechanical systems, upgraded infrastructure, and a stunning new façade reclad in 11×19 foot single-pane glass units, the largest ever used on a redevelopment in New York City.
“400 Capital is excited to relocate to new office space which will achieve LEED certification and benefit from Brookfield’s expansive interior and exterior renovations,” said Bill Sanders, partner, president and COO of 400 Capital Management. “Fundamental workplace needs have shifted dramatically in recent years, and as a firm with plans to continue to grow we recognize the value that accessible, modernized, high-quality space provides for collaboration, business development, recruitment and so much more.”
David Hollander, vice chairman and Brad Auerbach, senior vice president of CBRE brokered the deal on behalf of 400 Capital. Brookfield Properties was represented in-house by McCuaig, Dave Caperna and P.J. Massey, as well as Bruce Mosler, Josh Kuriloff, Ethan Silverstein, John Santora, Matthias Li, Nicholas Dysenchuk and Howard Cross of Cushman & Wakefield.
