More of publishing firm Meredith’s former offices are being absorbed as some firms do find Third Avenue attractive.
An administrator for private equity funds is moving to 48,000 square feet at 805 Third Ave. just across East 50th Street from its current digs at 825 Third.
The company, Gen II Fund Services, will occupy the entire 24th and 25th floors, which are being renovated into an open layout.
William Iacovelli of CBRE represented Gen II in the sublease from Meredith, which was represented by Frank Doyle and Randy Abend of JLL. The asking rent was $63 per square foot. The 23rd and 24th floors are still available.
Gen II works with companies representing $200 billion of private capital and reports to more than 9,000 limited partners on behalf of its clients while managing operational infrastructure, financial reporting and investor communications.
Earlier this spring, we told you Kroll Bond Rating subleased the 26th through 29th floors from Meredith for a total of 95,200 square feet. After Meredith merged with Time Inc. and relocated to Time’s offices at Brookfield Place, it put other offices on the market.
