GoldPoint Partners — a private equity investment arm of New York Life Insurance Company — is moving.
GoldPoint has signed a 15-year lease with Fisher Brothers for 29,768 square feet of office space at 299 Park Ave. in Manhattan, in New York.
The private equity firm will occupy the entire 37th floor of the Plaza District tower. A source close to the transaction told ThinkAdvisor’s sister publication, GlobeSt.com, that the asking rent was more than $90 per square foot.
The firm which is an affiliate of New York Life Investment Management and subsidiary of New York Life, plans to relocate in the second quarter of 2019. The firm now has its offices at 51 Madison Ave.
GoldPoint manages about $13 billion in private equity assets on behalf of pension funds, endowments, financial institutions and high net-worth investors.
A team from New York Life’s investment division formed the nucleus of GoldPoint in 1991. The firm took its current name in 2012.
The firm’s new home will be in New York’s Plaza District.
For decades, that district was seen as the most expensive commercial real estate area in New York. In recent years, however, the area has suffered the loss of blue chip tenants to newer buildings in the Financial District and in Hudson Yards, on the west side of the Manhattan.
But GoldPoint is the fourth financial firm to sign a full-floor lease at 299 Park Ave. during the past eight months.Traxys is on the 38th floor, B. Riley is on the 21st floor, and Varagon Capital Partners is on the third floor.
Richard Bernstein, Steve Braun and Christine Colley of Cushman & Wakefield represented GoldPoint Partners. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel, and by Newmark Knight Frank’s Andrew Sachs and Pete Shimkin.
The building was designed by Emery Roth & Sons and built by Fisher Brothers. It opened in 1967.
— Read Blackstone Hires Former Federal Insurance Office Head, on ThinkAdvisor.