Steve Roth’s Vornado Realty has investment brokerage firm Neuberger Berman to an additional 47, 000 square feet of space at 1290 Ave. of the Americas. Neuberger Berman will now hold more than 400, 000 square feet of space when it moves into its new offices there at the end of 2016. The good news for Vornado comes as the company’s stock finished 2014 on a high note.
Located on the entire eastern block between West 51st and West 52nd Streets, 1290m Sixth Ave is a 43 story, Class A tower with 2 concourse floors built in 1963. It was renovated in 2013. Its ceilings range as high as 20 feet and the building has well over 4.3 million square feet of office space.
Vornado’s Glenn Weiss represented the firm in-house on the deal.
The firm’s stock has risen 6.9% over the past month. It has gone up 21.06% in the past three months and has gained 35.19% in the past year. The stock’s 50-day moving average of $112.16 is greater than its 200-day moving average of $106.07.