In a major expansion of its space, Wall Street’s first independent boutique investment banking advisory firm, Peter J. Solomon Company (PJSC), announced that it has executed a lease for the entire 31st floor at 1345 Avenue of the Americas.
In signing a long term sublease for 41,819 square feet from Alliance Bernstein, L.P., PJSC signaled its continued commitment to the growth of the firm. PJSC currently occupies a full floor of 23,411 SF at 520 Madison Avenue.
PJSC’s investment banking advisory services cover a broad range of industry sectors including retail, e-commerce, distribution, consumer products, media, entertainment, communications, technology, health care and diversified industrial products.
In addition to mergers and acquisitions, PJSC advises companies and boards of directors on restructuring, recapitalization, financings, fairness opinions and proxy and take-over contests.
In a joint statement, Peter J. Solomon and Kenneth T. Berliner, respectively Chairman and President of PJSC, hailed the firm’s move which will occur during the 1st quarter of 2013, as an exciting new chapter in the firm’s nearly 25 year history. “We are grateful to our clients and colleagues for enabling our success. Particularly in today’s turbulent markets where independent investment banks have expanded their role in advisory work, we have an opportunity for thoughtful growth as we enter an exciting new era for PJSC.”
In its lease transaction, PJSC was represented by Neil Goldmacher, vice chairman of Newmark Grubb Knight Frank.
Peter J. Solomon Company (PJSC) is a leading independent investment banking firm headquartered in New York, City. Founded in 1989, the Firm provides owners, boards of directors, chief executives and senior management of public and private companies with strategic and financial advice.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs in excess of 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.