NEW YORK CITY – RFR Realty LLC today announced that prominent investment firm Fintech has signed a 6,375-square-foot lease renewal at 375 Park Avenue, also known as the Seagram Building. Founded in 1987 by Mexican financier David Martinez, Fintech, which specializes in corporate and sovereign debt, has been a tenant in the landmark building since 1994 and agreed to renew its lease on the 38th floor for an additional 10 years.
“We have experienced tremendous leasing activity at 375 Park Avenue over the past few months, which is a testament to the attractiveness of this coveted modern masterpiece,” said Steve Morrows, executive vice president and director of leasing at RFR Realty LLC.
This deal comes on the heels of a new commitment with Singapore-based investment company Temasek International (USA) LLC, which signed a 16,969-square-foot full-floor lease on the fourteenth floor of the premier property.
Designed by noted architects Ludwig Miles van der Rohe and Philip Johnson, 375 Park Avenue was completed in 1958 and remains today one of the finest examples of the functionalist design aesthetic and a masterpiece of corporate modernism. Acquired by RFR in 2000, the building has since undergone a comprehensive capital improvements campaign, which included the addition of Pablo Picasso’s colossal curtain painting Le Tricorne, a broad elevated plaza along Park Avenue that features symmetrically designed fountains and landscaping, a 150-car parking garage and two of Manhattan’s most exclusive restaurants: Four Seasons and Brasserie. 375 Park Avenue offers refined luxury office interiors with panoramic views of the Manhattan skyline coupled with 24/7 building access, convenient proximity to public transportation and a prestigious tenant roster that includes some of the world’s great financial powerhouses and Fortune 500 companies.
Fintech Advisory, Inc. was represented in the lease negotiations by Eric Deutsch of CBRE.