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]