Jennison Associates signs 15-year lease at Park Avenue Plaza

“The completion of agreements like those of Jennison and others over the past year is a testament to our unwavering dedication to our tenants and to the revitalization of New York City,” said Ken Fisher, Partner at Fisher Brothers .

The building is currently 97% leased and this lease is the first for 2021.

Construction will begin in 2023 and the company plans to move in by late 2024 or early 2025, replacing BlackRock as a tenant. Jennison cited the safety features of the 45-story building as a major draw.

The owner recently completed a project to improve indoor air quality at five of his Manhattan properties, including this one, as the Covid-19 virus spreads more easily indoors. The building is also equipped with a security system with staff 24/7; CCTV coverage of the lobby, elevators, loading dock, perimeter and other key areas; and access to the security door by key card for the elevators.

In July, wealth management firm BBR Partners invested 30,000 square feet in the property.

Fisher also recently announced an agreement with financial services firm Equitable Financial at 1345 Sixth Ave. The company has signed a long-term lease to occupy 123,000 square feet on several floors of the building, which is currently undergoing a $ 100 million renovation that includes a lobby and new HVAC systems and d ‘other improved security features.