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Forest Hills Financial Group is switching it up in Midtown to 535 Fifth Avenue, Commercial Observer has learned.
The financial firm signed a 10-year deal to relocate from 122 East 42nd Street to 7,175 square feet on the entire 13th floor of 535 Fifth, according to landlord The Moinian Group. Asking rent was $65 per square foot.
Forest Hills, a subsidiary of The Guardian Life Insurance Company of America, will occupy the space in the first quarter of 2024.
“The new lease at 535 Fifth Avenue further showcases that credit tenants are seeking high-end buildouts in prime locations,” Omar Sozkesen, vice president of commercial leasing for Moinian, said in a statement. “Forest Hills Financial Group was drawn to a turnkey installation in the heart of Manhattan.”
Mitchell Arkin and Will Yeatman of Cushman & Wakefield (CWK) along with James Cassidy of DHC Real Estate Services represented Moinian, while Robert Gallucci of Colliers brokered the deal on behalf of the tenant.
C&W, DHC Real Estate and Gallucci did not immediately respond to requests for comment.
Built in 1927 at the corner of Fifth Avenue and 44th Street, 535 Fifth is a 36-story building with 329,733 square feet of space. Tenants include Gardiner & Theobald, Best Buy and Manhattan Endoscopy.
Mark Hallum can be reached at mhallum@commercialobserver.com.
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