Skip Ribbon Commands
Skip to main content

News release

NEW YORK, NY

Jones Lang LaSalle Completes Renewal, Expansion for Stone Harbor in New York

Investment advisory firm inks 15-year deal for 53,398 SF; will occupy entire 16th floor, 17th floor at Class A, 659,724-SF 31 West 52nd Street


NEW YORK, February 11, 2014 — Jones Lang LaSalle has completed a new, direct lease for Stone Harbor Investment Partners LP at 31 West 52nd Street. The investment advisory firm signed a 15-year lease for 53,398 square feet at the Class A, 659,724-square-foot commercial office building.

The tenant, Stone Harbor, was represented by Robert Martin, vice chairman, and Brad Lane, vice president, both with JLL. The building owner, Paramount Group, Inc., was represented in-house by Peter Brindley, vice president.

“Stone Harbor Investment Partners was expanding and had a strong preference to remain at 31 West 52nd Street,” said Martin. “After a lengthy process involving many parties, we were able to secure contiguous space for the firm located directly above its existing floor that would become available later this year. The investment advisory firm found the opportunity to be ideal as it created an opportunity to expand seamlessly within the building.”

Stone Harbor renewed its existing lease for 26,600 square feet and will continue to occupy the entire 16th floor at 31 West 52nd Street, located between Fifth and Sixth Avenues in Midtown. The investment advisory firm will also expand by 26,738 square feet and will occupy the entire 17th floor at the building. The lease term on both spaces is co-terminous.

The 30-story 31 West 52nd Street was designed by Kevin Roche John Dinkeloo & Associates and constructed in 1986.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.