{"id":36877,"date":"2023-09-22T08:48:48","date_gmt":"2023-09-22T05:48:48","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=36877"},"modified":"2025-03-25T16:08:44","modified_gmt":"2025-03-25T13:08:44","slug":"putnam-445-park-lease","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/putnam-445-park-lease\/","title":{"rendered":"Financial Adviser Putnam Plans Move to New Midtown East Office"},"content":{"rendered":"

F.L.Putnam \u2014 a Portland, Maine-based financial planner \u2014 is relocating and expanding its office space in Midtown<\/a> East.<\/p>\n

Having signed an 11-year lease for a workspace on the sixth floor of 445 Park Ave., the investment adviser is scheduled to move into its new, 6,000-square-foot premises by early December. According to the brokers, the asking rent for office space within the Circle Realty Group-owned building is in the $90-square-foot range<\/a>.<\/p>\n

Following the deal, Putnam will be looking to move out of its current location at 805 Third Ave. The company has additional locations in Massachusetts, New Hampshire and Rhode Island.<\/p>\n

Jay Futersak, president of landlord Circle Realty Group, represented the landlord in-house, while a Compass team comprised of Adelaide Polsinelli\u00a0and\u00a0Lauren Curcio\u00a0negotiated on behalf of F.L.Putnam.<\/p>\n

Futersak said that the new tenant would be \u201ca good complement to all the high-net-worth family offices we have in the building.\u201d<\/p>\n

\u201cWe signed four leases in the last four weeks, and we\u2019re seeing tremendous absorption on Park Avenue,\u201d he continued. \u201cI think Park Avenue is extremely in demand. We\u2019re busier than ever, 95% leased. We\u2019re very full.\u201d<\/p>\n

Other tenants at 445 Park include the likes of residential real estate firm Brown Harris Stevens, financial planner Alfest Wealth Management, and collectibles specialist Heritage Auctions.<\/p>\n

\u201c445 Park Avenue\u2019s lease is a testament that there is life in office buildings in prime Midtown locations,\u201d Polsinelli said. \u201cBusinesses are adopting a back-to-the-office stance and have used the past few months to reorganize and rethink their needs.\u201d<\/p>\n

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F.L.Putnam \u2014 a Portland, Maine-based financial planner \u2014 is relocating and expanding its office space in Midtown East. Having signed an 11-year lease for a workspace on the sixth floor of 445 Park Ave., the investment adviser is scheduled to move into its new, 6,000-square-foot premises by early December. According to the brokers, the asking…<\/p>\n","protected":false},"author":56,"featured_media":36880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37,38,4014,39],"tags":[],"class_list":["post-36877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nPutnam Moves into New Offices as 445 Park | CommercialCafe<\/title>\n<meta name=\"description\" content=\"F.L.Putnam is relocating and expanding its office space in Midtown East. 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