Raymond James has inked a 160,000 square-foot office lease at Mutual of America’s 320 Park Avenue, according to the NYPost. The financial services firm is consolidating from several of its smaller Manhattan locations.
Macro trends are pointing in the other direction: Manhattan office leasing in the second quarter was a mere 3.18 million square feet — down 72 percent from the same quarter in 2019 and the lowest quarterly total since 2009.
Worth Noting: The lease was signed by both sides and is now awaiting final lender approval – a common technicality not likely to affect the deal. [NYPost]