Investment Advisor Leases 28,000 SF

NEW YORK CITY-Investment advisor First Investors Management Co. Inc. will be moving its headquarters across the street now that it has leased 28,000 sf at 110 Wall St. The Rudin family owns the 27-story building.

The 10-year, eight-month lease will give the company the entire fourth floor and part of the fifth floor. It plans to relocate its headquarters from 95 Wall St. in June.

The rental rate was not disclosed for the deal, but according to Rudin Management Co.’s website asking rent on the fourth and fifth floor is $35 per sf plus electric. This deal leaves only 16,000 sf vacant in the 292,627-sf property.

Major tenants include M.R. Beal & Co., Unisys Corp. and Teamsters Local Union 210. “We’re delighted that yet another prestigious financial services firm has chosen 110 Wall St. as its new home,” says William Rudin, president of Rudin Management Co., in a statement.

Studley’s Marc Shapses and Jason Schwartzenberg represented First Investors. Rudin Management Co. was represented in-house by Robert Steinman and Gene Baumstein.

Rudin Management Co. owns more than a dozen other properties in Midtown and Downtown, including 3 Times Square, 355 Lexington Ave., 80 Pine St., and One Battery Park Plaza.