Investment brokerage Laidlaw & Company is moving one block within Midtown.
The 170-year-old investment banking and securities firm inked a 10-year deal for 20,987 square feet on the entire 12th floor at 521 Fifth Avenue, between East 43rd and 44th Streets. Asking rent for the space wasn’t immediately available.
Laidlaw will relocate from 546 Fifth Avenue, which is only a block and a half away between West 45th and 46th Streets, in the second quarter of 2018.
“Fifth Avenue continues to be a premier business address and buildings like 521 Fifth Avenue, which are centrally-located, convenient to mass transit and have the benefit of institutional ownership will continue to outperform the market,” said SL Green Executive Vice President Steven Durels in prepared remarks.
Jonathan Plotkin and Tim Pond of Colliers International handled the deal for Laidlaw & Company. SL Green was represented by Cushman & Wakefield’s Tara Stacom, Barry Zeller, Justin Royce and Pierce Hance. Spokespeople for both brokerages didn’t immediately respond to requests for comment.
Other tenants in the 39-story office building include ChinaTrust Commercial Bank, McGraw Communications and Financial Guaranty Insurance Company. The property’s ground floor retail is occupied mostly by Equinox and Urban Outfitters.