Manhattan, NY Brookfield Properties and the Swig Companies said that Hg signed a 14,000 s/f long-term lease at the Grace Building, located at 1114 Ave. of the Americas. The firm will occupy the 16th floor.
Michael Movshovich and Troy Elias from Cushman & Wakefield represented Hg in the deal. Hayley Shoener and PJ Massey represented Brookfield Properties.
The Grace Building is a 49-story, 1,525 s/f, LEED Gold-certified office building located on 42nd St. between Fifth Ave. and Ave. of the Americas in the center of one of the New York City’s most prime office locations.
The building offers access to most Manhattan subway lines. Brookfield Properties recently completed a revitalization of the Grace Building, including redesigning its 30,000 s/f outdoor plaza, lobby and in-building restaurants.
Hg is one of the most active software and services investors globally, backing businesses that transform how people work. Hg has funds under management of more than $55 billion and manages a portfolio of over 45 software and technology businesses worth more than $100 billion in aggregate enterprise value, of which almost two thirds comprise businesses that serve enterprise or SME customers in North America and Europe. Hg’s New York team has grown significantly from the 10 members who opened an original office in 2019. In addition to the opening of Hg’s San Francisco office in 2022, Hg now has a team of over 50 employees based in North America.
“We are pleased to welcome Hg to the Grace Building,” said Mikael Nahmias, senior vice president, leasing, Brookfield Properties. “The Grace Building has become the destination-of-choice for top-tier firms eager to secure an inspiring location for their employees. The views, the iconic design, and of course, Bryant Park at our doorstep all make the Grace Building an amazing place to work.”
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