C.V. Starr & Co., Inc. Leases 141,000 SF at 399 Park Ave

Cushman & Wakefield announced that C. V. Starr & Co., Inc, (C. V. Starr) an independently owned holding company with insurance agencies and a portfolio of global investments, has completed a 141,000-square-foot lease for its world headquarters office at 399 Park Ave. in New York.

The company, which previously occupied a full floor in the building, will relocate employees from other offices in the New York area.

C. V. Starr signed a long-term lease at 399 Park Ave., which is located in the Plaza District between 53rd and 54th Streets, and will occupy three full floors in the building.

Cushman & Wakefield brokerage professionals John Picco, David Stockel, August DiRenzo and Andrew Behymer represented C. V. Starr in its office space evaluation, site search and lease negotiation. The landlord, Boston Properties, was represented in-house by Andrew Levin, as well as Peter Turchin, John Powers and Greg Rothkin of CB Richard Ellis.

"This is a perfect example of the kind of forward thinking strategy innovative firms are employing now to take advantage of the recent changes in the market," said Mr. Picco, a Cushman & Wakefield executive director. "C. V. Starr identified its ideal occupancy scenario, which included location, quality and flexibility for expected future growth, and was able to secure an opportunity to realize its requirements at favorable terms."

source : Cushman & Wakefield