CBRE Group, Inc. announced that Peconic Partners signed a new lease for the entire 46th floor, 8,623 RSF, at 599 Lexington Avenue for a ten-year term. The company is moving from 350 Park Avenue.

CBRE’s Peter Turchin, Christie Harle, Arkady Smolyansky, Evan Fiddle and Caroline Merck represented the buiding owner Boston Properties.

Peconic is the third tenant to recently move from a Park Avenue address to 599 Lexington Avenue, following Welsh, Carson, Anderson & Stowe (leaving 320 Park Avenue) which leased the entire 18th floor and part of the 17th floor (total 32,683 RSF), and Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP which left 399 Park Avenue and leased the entire 36th floor (17,627 RSF) at 599 Lexington Avenue.

Boston Properties has invested $15 million of capital improvements at the 47-story skyscraper, including the recently-completed lobby renovation by FXFOWLE and an elevator modernization project that upgrades the interior cabs, fully modernizes the mechanical system, and provides destination-dispatch capabilities.

“Peconic was drawn to the spectacular city-wide views and exciting changes underway in the neighborhood surrounding 599 Lexington Avenue where Boston Properties is investing an additional $260 million at 399 Park Avenue and 601 Lexington Avenue, which are directly across from 599 Lex,” said Christie Harle, SVP of CBRE. “The only remaining availability in the building is 17,991 RSF on a portion of the 17th floor and the entire 25th floor, consisting of 25,938 RSF, both of which are further divisible.”

Peconic was reperesented by Marc Shapses and John Johnson of Savills Studley.

Designed by the eminent Edward Larrabee Barnes with a 50-foot tall lobby featuring Frank Stella’s Salto nel Mio Sacco art piece, 599 Lexington Avenue is the perfect combination of an ideal location and excellent amenities. The building is located in the heart of Midtown Manhattan on the east side of Lexington Avenue between 52nd and 53rd Streets. 599 Lexington Avenue has direct access to the 6, E, and M subway lines and is convenient to shopping, restaurants and hotels.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.