The investment firm belonging to Maurice “Hank” Greenberg, of AIG notoriety, last week signed a new, meaty lease for 120,000 square feet of old Lehman Brothers office space at 399 Park Avenue.
C. V. Starr & Co. already has 20,000 square feet of offices at 399 Park, so this new lease is something of a mega-expansion, and also something of a consolidation, as the firm will also be relocating employees from about 90,000 square feet at Vornado Realty Trust’s 90 Park Avenue.
“We are broadening the reach of our businesses and growing our workforce, and expanding rapidly,” said Amy Foote, a C.V. Starr spokeswoman.
This is the second sizable lease at Boston Properties’ 40-story tower. This summer, The Observer broke the news that Ken Moelis’ investment bank had taken a 96,000-square-foot lease in the same building.
CB Richard Ellis’ Peter Turchin represented Boston Properties, which is chaired by Mort Zuckerman, in negotiations with Cushman & Wakefield’s John Picco, who represented the investment firm. Neither would comment for this story.