Tribeca Investment Group accepts
three new leases at 295 Fifth Ave.

Manhattan, NY Tribeca Investment Group (TIG), PGIM Real Estate and Meadow Partners said that credit intelligence and data firm Octus, formerly Reorg, has signed a 43,000 s/f lease at the fully redeveloped 295 Fifth Ave. The company will occupy the entire sixth floor of the historic building, which is also known as the Textile Building. In addition, Brian Kim’s Oiji Hospitality Group signed a 15-year, 8,100 s/f lease on the corner of 31^st and 5^th Ave., while Just Salad leased the retail space at the corner of 30^th and Fifth Ave.

“As we continue to prioritize our employees and future workforce growth, our New York City offices emerged as a critical asset for talent retention and acquisition,” said Kent Collier, founder and CEO of Octus.

The CBRE team of David Hollander, Mary Ann Tighe, Peter Turchin, Brett Shannon, Liz Lash and Hayden Pascal negotiated the office transaction on behalf of ownership. The tenant, Octus, was represented by  Taylor Bell of Colliers. A Lee & Associates team, including Peter Braus, Morris Dweck, JP Sutro, Mark Kapnick and Brett Traussi, was the leasing agent for both restaurant transactions. Oiji Hospitality was represented by KSR’s David Green, while Just Salad was represented by Neil Seth of Cushman & Wakefield.

As part of the building’s complete reimagining, the lobby has been designed to incorporate different quadrants to enhance the tenant experience and support the ability for people to work, relax and collaborate. A new courtyard was also created to provide tenants access to desirable outdoor work spaces. In addition, ownership will open a new conferencing facility, including a 150-person multi-purpose room. The conference amenity has been designed in direct response to tenant feedback, as companies look to have access to this valuable amenity for meetings, employee training and hosting clients. 

“New York City continues to benefit from companies that are investing in their workforce and recognize the vibrancy and lifestyle of the city is essential to attract talent, particularly in the competitive professional and financial services industries as  well as at the technology firms that service those industries,” said David Hollander, vice chairman of CBRE. “Octus’ relocation was driven in large part by the firm’s desire to meet their employees where they want to be, offering a high-quality workspace complete with in-building amenities, coveted food and beverage options and a dynamic neighborhood.”

Oiji Stk, run by chef Brian Kim’s Oiji Hospitality Group, is expected to open in the second quarter of 2026. The Korean steakhouse concept will include both high end sit down dining and a retail butcher shop options, catering to the needs of 295 Fifth tenants and the neighborhood at large. 

“It’s more important than ever that office buildings function as a whole entity, an approach we’ve mirrored from our hotel experience. All the different food and beverage offerings, work spaces, and environments are all meant to work together to create great experiences throughout the day,” said Elliott Ingerman, TIG principal. “Ultimately it’s our job to create a building environment that people want to come to every day. Exceptional food, of course, is essential to delivering the best possible experience.”

“The team at Lee is proud to bring Oiji and Just Salad to 295 Fifth Avenue, helping its ownership to realize their goal of having best-in-class tenant amenities to support the office tenants,” said Peter Braus, President of Lee & Associates NYC. 

Located in the NoMad neighborhood of Midtown South, 295 Fifth Ave. occupies a full block front and is located between Madison Square Park, Penn Station and Grand Central. As a result, the location offers connectivity and access to a variety of transportation options while being part of a neighborhood filled with restaurants, retailers and parks. Two blocks of space remain available in the 710,000 s/f building.

The lobby interiors were thoughtfully redesigned by Studio MAI with the intention of creating a uniquely hospitality-driven office environment that feels relevant to lives today. In addition to a traditional lobby check in, 295 Fifth’s ground floor also includes a cafe and library, set against a lush garden backdrop. The lobby provides access to a rear courtyard for opportunities for outdoor, fresh-air workspaces.

The development and design teams prioritized several key elements aimed at elevating the employee experience. Abundant outdoor workspaces, including multiple terraces and a first-floor courtyard, offer employees access to fresh air throughout their day while being able to stay connected. Flexible interior work zones and a hospitality-focused amenities package allow employees the convenience of a vertical campus. 

Originally built in 1920 by notable builder George Backer, 295 Fifth Ave. was previously home to NYC textile tenants and at that time was considered the finest structure on Fifth Ave. Construction of the original 17-story building took less than a year, further elevating the building’s status as a marvel of modern-day construction. 

Studios Architecture has completely reimagined the century-old brick building, while honoring its historic character. In addition to making infrastructure upgrades, including the installation of new elevators, windows and HVAC systems, Studios Architecture designed a two-story, 34,000 s/f penthouse addition to sit atop the building. The addition allowed for the creation of three floors, 17-19, with wraparound outdoor terraces, overlooking many of New York’s iconic skyline. Outdoor work space, unique amenities and biophilic design responds to the growing demand for flexible work areas and unique collaboration zones that support increased productivity and talent recruitment and retention. 

Late in 2024, the world’s largest hedge fund manager, Bridgewater Associates, signed a 60,000 s/f lease at the building and, previously, global litigation firm Quinn Emanuel Urquhart & Sullivan, LLP (Quinn) took 155,000 s/f at 295 Fifth Ave., and was the largest Midtown South relocation of 2023.