Neuberger Berman Group LLC, the money manager that was part of Lehman Brothers Holdings Inc., will move its headquarters to Vornado Realty Trust’s tower at 1290 Avenue of the Americas in midtown Manhattan.
Neuberger plans to take about 355,000 square feet (33,000 square meters) in the 45-story, 2.1 million-square-foot building, a block north of Radio City Music Hall, the companies said in a joint statement today. The firm’s main offices currently are at 605 Third Ave., between 39th and 40th streets.
Vornado, owner of about 28 million square feet of New York properties, last year completed a renovation of the skyscraper, including a new lobby. Neuberger was attracted to the tower because of its upgrades and central Midtown location, the company said in the statement. The building offers the investment firm a dedicated lobby visitor center and conference center, and will have “extensive” branding.
The move is scheduled to be completed in late 2016. Neuberger has been at 605 Third Ave., owned by Fisher Brothers, since 1992. Its lease there expires in 2017.
Neuberger was represented by Newmark Grubb Knight Frank’s Neil Goldmacher, while Cushman & Wakefield’s Josh Kuriloff and Bruce Mosler worked with Vornado.