Alvarez & Marsal expands office space in Manhattan
Management consulting firm Alvarez & Marsal has expanded its office footprint at its current NYC headquarters at 600 Madison Ave. Already the largest tenant at the building, A&M will expand its office space by 22,000 square feet, reaching a total footprint of nearly 150,000 square feet.
Restructuring and turnaround consultancy Alvarez & Marsal started out in 1983 in New York City. Since then, the firm has expanded across the globe, with 25 offices in the US and 27 outside of it. The consulting firm is a leading company in the area of turnaround management, battling it out for clients with rivals FTI Consulting and AlixPartners. Alvarez & Marsal has worked on many high profile restructuring assignments, including Lehman Brothers, Target Canada, and Arthur Andersen.
The firm is in no need of its own restructuring services, as it continues to grow and thrive. In addition to restructuring and turnaround, Alvarez & Marsal also offers advisory support in the areas of performance improvements, tax, disputes and investigations, valuation, compliance, private equity, and crisis management.
Now, the firm will be expanding its footprint at its New York headquarters located at 600 Madison Ave, on the corner of East 58th St. Already the largest tenant of the 26-story building, A&M will be boosting its office space by 22,000 square feet to nearly 150,000 square feet. Built in 1965, 600 Madison boasts a spacious marble lobby, usable terraces, and sweeping views of Central Park. The building is owned by Ruben Companies, having acquired the land for $210 million in 2013 after having the leasehold on the building since the 1970s.
A&M replaced anchor tenant Tifanny & Co. when it moved into the prestigious and prime-located building. The rest of the 327,960 square foot tower is held by companies like boutique investment bank Financo, real estate broker Lee & Associates NYC, and real estate investment firm Rialto Capital Management.
The A&M office space expansion was confirmed by commercial real estate service firm JLL, who represented the consulting firm in the deal. The financial terms of the deal were not disclosed.
The firm recently appointed former Assistant US Attorney Robert Milan as Managing Director in its global anti-corruption and corporate fraud investigation practice. A&M also recently appointed Kristina Park, Doris Stein, and Ken Barrett as Managing Directors in its Healthcare Industry Group.
