Lazard Looking for Brokers for Its Mammoth Hunt

Banking giant Lazard has been interviewing would-be real estate consultants, including CB Richard Ellis and Studley, for a coveted consulting gig, in preparation for its lease expiration at 30 Rockefeller Center in 2012 (yes, these things take that much time). Sources say the financial house tentatively wants to search for 300,000 to 400,000 square feet.

Lazard, formerly known as Lazard Freres, expanded from One Rockefeller Center into more than 200,000 square feet in 30 Rock in 1995, according to old press accounts.

A spokeswoman for the bank declined to comment. Its search for space, while bad news for 30 Rock’s landlord Tishman Speyer, is good news for an office market that has absolutely no shortage of good financial office space, and absolutely no abundance of expanding financial tenants. (On the contrary, financial firms have been shedding space like a New Yorker shedding clothes in May.) That means, of course, that should Lazard decide to relocate, it will have choice picks at competitive taking rents.

At last count, the publicly traded firm has $81 billion in assets under management. Though it, too, has been rocked by the economic turmoil, Lazard is actually on a bit of a hiring spree, according to a recent article in The Wall Street Journal.

drubinstein@observer.com

 

Lazard Looking for Brokers for Its Mammoth Hunt