Leading Private Equity Firm Will Occupy 15,000 SF in Relocation to Fisher Brothers’ Renovated Midtown Tower
Fisher Brothers announced today that Wellspring Capital Management has signed a new 15-year, 14,698-square-foot lease to occupy the entire penthouse floor at 605 Third Avenue, its signature 1.1 million-square-foot office tower in Midtown Manhattan.
Wellspring Capital Management, a leading private equity firm founded in 1995, will relocate from 390 Park Avenue to the top floor of the 44-story tower this year.
“With abundant natural light and striking panoramic views, the penthouse at 605 Third Avenue is one of the city’s most impressive and inspiring workspaces,” said Fisher Brothers Partner Winston Fisher. “It proved to be the perfect fit for Wellspring Capital Management, which was seeking an exceptional office environment in the heart of Midtown.”
Since completing a wide-ranging $25 million capital improvement program in early 2016, Fisher Brothers has secured nearly 415,000 square feet of leases. The tower is now 96 percent leased, with just two full floors and two partial floors still available.
Designed by David Rockwell and the Rockwell Group, the centerpiece of the renovation project was the creation of a brand new building entrance and a more spacious and inviting lobby, highlighted by a sleek feature wall composed of brass panels. In addition, David Rockwell and the LAB at Rockwell Group worked with Fisher Brothers to install two oversized digital glass windows in the lobby that are designed to function as giant kaleidoscopes and serve as a form of public art.
To further enhance the experience, Fisher Brothers has partnered with Convene, the nation’s fastest growing office services provider, to create a full-service tenant amenity and conference center at 605 Third Avenue. Located on the seventh floor, the space will be operated by Convene’s roster of world-class hospitality professionals and feature a variety of meeting areas, a gourmet café, outdoor terraces and comfortable lounge seating.
Wellspring Capital Management was represented in the transaction by Michael Geoghegan and Paul Stimpfle of CBRE. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel, as well as by Bruce Mosler, Louis D’Avanzo, Andrew Ross, Michael Baraldi, and Maria Travlos of Cushman & Wakefield.
Originally built by Fisher Brothers in 1963, 605 Third Avenue is certified LEED Gold by the U.S. Green Building Council for its highly efficient and environmentally sustainable working environment. Located between East 39th and 40th Streets, the Class-A tower’s esteemed tenant roster includes Broadridge Financial Solutions, Informa, Univision, AECOM, David Hutcher & Citron LLP, and the United Nations Population Fund.
About Fisher Brothers
For more than a century, Fisher Brothers has epitomized excellence in commercial and residential real estate development, ownership and management. Fisher Brothers built and continues to own and operate a sterling commercial real estate portfolio encompassing seven million square feet of Class A office space located in such iconic towers as Park Avenue Plaza, 299 Park Avenue, 1345 Avenue of the Americas and 605 Third Avenue in Manhattan, as well as Station Place, which is Washington, DC’s largest private office complex. In Las Vegas, Fisher Brothers is developing AREA15, a first-of-its-kind experiential and interactive, retail, dining and nightlife complex. Fisher Brothers also has returned to its roots as a residential builder with nearly 1.5 million square feet in recent and ongoing development. In early 2015, Fisher Brothers celebrated the completion of Station House, a luxury rental development in Washington’s historic Capitol Hill District. In Manhattan, Fisher Brothers has recently completed development of House 39, an amenity-rich building at 225 East 39th Street and 111 Murray, an ultra-luxury, high-rise condominium tower in Tribeca.
