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, with occupancy expected in Q3 2024.
- • The hedge fund is moving from 257 Park Ave. South to a refurbished space featuring Union Square Park views, high ceilings, individual offices, and new bathroom facilities.
- • 19 Union Square West is a 121,548-square-foot, 12-story boutique office building constructed in 1911, strategically located at the corner of East 15th Street and Union Square with connectivity to Downtown, Midtown, and Brooklyn.
- • JLL Managing Director Scott Vinett and Chris Joyner of Fischer Corporate Real Estate represented Gresham, while ownership was represented by ABS Real Estate Partner Ben Waller and Executive Managing Director James Caseley.
- • The property, owned by 17-19 Associates LLC, is consolidating tenants as IBM vacates to concentrate its New York City workforce at One Madison Ave.
Summary
Gresham Investment Management, a subsidiary of asset management firm Nuveen Investments, has secured a relocation to 19 Union Square West, a 12-story Midtown South office building. The hedge fund will occupy the entire 11th floor, comprising 9,233 square feet, marking a strategic move from its previous headquarters at 257 Park Ave. South. The transaction was brokered by JLL, with Managing Director Scott Vinett leading the representation for Gresham alongside Chris Joyner of Fischer Corporate Real Estate. Ownership, represented by ABS Real Estate Partner Ben Waller and Executive Managing Director James Caseley, plans to have the space ready for occupancy in Q3 2024.
The 11th-floor space was previously occupied by IBM, which is consolidating its New York City operations at One Madison Ave. Prior to Gresham's arrival, property ownership will undertake significant refurbishment to capitalize on the building's architectural assets—specifically the Union Square Park views and high ceilings—while reconfiguring the floor layout to accommodate individual offices and installing new bathroom facilities. According to Vinett, the location offers "elevated office space in a vibrant, commuter-friendly location" with strong connectivity to multiple Manhattan districts.
19 Union Square West represents a 121,548-square-foot boutique office and retail property dating to its original 1911 construction. Situated at the corner of East 15th Street and Union Square, the building is owned by 17-19 Associates LLC and maintains an appeal to a diverse tenant roster spanning technology, finance, and creative sectors. The property provides 24-hour access with an attended lobby, positioning it as an attractive hub for institutional tenants requiring operational flexibility and transportation accessibility across Downtown, Midtown, and Brooklyn markets.
The 11th-floor space was previously occupied by IBM, which is consolidating its New York City operations at One Madison Ave. Prior to Gresham's arrival, property ownership will undertake significant refurbishment to capitalize on the building's architectural assets—specifically the Union Square Park views and high ceilings—while reconfiguring the floor layout to accommodate individual offices and installing new bathroom facilities. According to Vinett, the location offers "elevated office space in a vibrant, commuter-friendly location" with strong connectivity to multiple Manhattan districts.
19 Union Square West represents a 121,548-square-foot boutique office and retail property dating to its original 1911 construction. Situated at the corner of East 15th Street and Union Square, the building is owned by 17-19 Associates LLC and maintains an appeal to a diverse tenant roster spanning technology, finance, and creative sectors. The property provides 24-hour access with an attended lobby, positioning it as an attractive hub for institutional tenants requiring operational flexibility and transportation accessibility across Downtown, Midtown, and Brooklyn markets.
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