Key Takeaways
- • Gresham Investment Management, a Nuveen Investments subsidiary, is relocating to the entire 11th floor (9,233 square feet) of 19 Union Square West in Midtown South, moving from its previous location at 257 Park Ave. South.
- • The hedge fund will occupy space previously held by IBM, which is consolidating its New York City operations at One Madison Ave.; ownership will refurbish the floor ahead of Gresham's Q3 2024 arrival to enhance park views, reconfigure layouts, and install new facilities.
- • 19 Union Square West is a 121,548-square-foot, 12-story building constructed in 1911, strategically positioned on the corner of East 15th Street and Union Square with connectivity to Downtown, Midtown, and Brooklyn, and maintains a diversified tenant roster spanning tech, finance, and creative sectors.
- • JLL represented Gresham in the transaction, with Managing Director Scott Vinett citing the property's elevated office space, Union Square Park views, transportation connectivity, and vibrant commuter-friendly location as key decision factors for the relocation.
Summary
Gresham Investment Management, a subsidiary of asset management firm Nuveen Investments, has secured office space at 19 Union Square West, a 12-story Midtown South property. The hedge fund will occupy the entire 11th floor, comprising 9,233 square feet, and is expected to arrive in Q3 2024. The relocation represents a transition from its prior headquarters at 257 Park Ave. South.
The space was previously occupied by IBM, which is consolidating its New York City workforce at One Madison Ave. Prior to Gresham's occupancy, the building's ownership will refurbish the floor to enhance its market appeal, reconfiguring the layout to include individual offices, installing new bathrooms, and emphasizing the property's Union Square Park views and high ceilings. The transaction was brokered by JLL, with Managing Director Scott Vinett representing Gresham alongside Fischer Corporate Real Estate's Chris Joyner. Ownership was represented by ABS Real Estate Partner Ben Waller and Executive Managing Director James Caseley.
19 Union Square West is a 121,548-square-foot boutique office and retail building originally constructed in 1911, situated at the corner of East 15th Street and Union Square. The property is owned by 17-19 Associates LLC and has been maintained as a diverse tenant hub housing technology, finance, and creative companies. The building offers 24-hour access, an attended lobby, and strong transportation connectivity to Downtown, Midtown, and Brooklyn. According to Vinett, the location provides Gresham with "elevated office space in a vibrant, commuter-friendly location" with "beautiful views of the park, great light and air," positioning it as an ideal environment for institutional finance operations in a strategically accessible Manhattan corridor.
The space was previously occupied by IBM, which is consolidating its New York City workforce at One Madison Ave. Prior to Gresham's occupancy, the building's ownership will refurbish the floor to enhance its market appeal, reconfiguring the layout to include individual offices, installing new bathrooms, and emphasizing the property's Union Square Park views and high ceilings. The transaction was brokered by JLL, with Managing Director Scott Vinett representing Gresham alongside Fischer Corporate Real Estate's Chris Joyner. Ownership was represented by ABS Real Estate Partner Ben Waller and Executive Managing Director James Caseley.
19 Union Square West is a 121,548-square-foot boutique office and retail building originally constructed in 1911, situated at the corner of East 15th Street and Union Square. The property is owned by 17-19 Associates LLC and has been maintained as a diverse tenant hub housing technology, finance, and creative companies. The building offers 24-hour access, an attended lobby, and strong transportation connectivity to Downtown, Midtown, and Brooklyn. According to Vinett, the location provides Gresham with "elevated office space in a vibrant, commuter-friendly location" with "beautiful views of the park, great light and air," positioning it as an ideal environment for institutional finance operations in a strategically accessible Manhattan corridor.
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