StepStone Group Relocates to 450 Lexington Amid Continuous Growth

Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced that it has negotiated a new 30,000-square-foot lease for StepStone Group’s relocation to 450 Lexington Avenue, as well as the sublease of the firm’s previous office space at 885 Third Avenue to law firm Fox Horan & Camerini LLP.

StepStone, a global private markets firm providing customized investment, portfolio monitoring and advisory solutions to investors, had outgrown its 19,000-square-foot office at 885 Third Avenue. The firm tapped Savills Studley’s David Carlos to find a solution.

“Without contiguous space available to expand into at 885 Third Avenue, we needed to find StepStone a new home in Midtown East, while simultaneously marketing the company’s existing office space for sublease,” said Carlos. “We were able to negotiate a transaction for a premium floor in a Class A building that will accommodate their continued growth. Simultaneously, we secured a creditworthy subtenant for StepStone’s current space.”

“In a quick, seamless process, David and his team solved our real estate challenge and achieved great results on both our new home and the sublease,” said Jason Ment, Partner and General Counsel at StepStone Group.

Carlos along with Savills Studley’s Kurt Handschumacher and David Dwight represented StepStone in both transactions.

About StepStone Group
StepStone Group is a leading, global private markets firm that oversees more than US$135 billion of private capital allocations, including over US$35 billion of assets under management. It has offices in Beijing, Dublin, Hong Kong, La Jolla, London, Luxembourg, New York, Perth, San Francisco, São Paulo, Seoul, Sydney, Tokyo, Toronto and Zurich. For more information, please visit www.stepstoneglobal.com.