The $300 Million Pivot: 5 Shocking Facts About 605 Third Avenue NYC After Neuberger Berman’s Exit

The iconic 44-story tower at 605 Third Avenue in Midtown East, New York City, is currently undergoing a significant transformation, driven by a multi-million dollar capital improvement program and the massive relocation of a long-time anchor tenant. As of late 2025, the Class A office building, jointly owned by Fisher Brothers and JPMorgan, is redefining its presence in the competitive Grand Central submarket, offering a blend of classic Midtown prestige with cutting-edge modern amenities. This deep dive uncovers the most current and compelling details about the property, its history, and the new era of corporate tenants shaping its future. The building, originally constructed in 1963, has always been a key fixture in the Midtown East business district, strategically located between East 39th and East 40th Streets. Its current market value is assessed at over $300 million, reflecting its status as a premier corporate address. The recent shifts—particularly the departure of a major financial firm—have created a unique opportunity for new companies seeking large, modern headquarters space in a prime Manhattan location.

The Anatomy of a Midtown East Powerhouse: Key Building Profile and Ownership

605 Third Avenue, sometimes historically referred to as the Unysys Building, is a formidable structure that dominates its corner of Third Avenue. Its sheer size and high-profile ownership are central to its market position.

Building and Ownership Profile

• Address: 605 Third Avenue, New York, NY 10158
• Building Class: Class A Office Tower
• Height/Floors: 44 Stories
• Total Square Footage: Approximately 900,000 to 1.1 million square feet
• Year Built: 1963–1964
• Owners: Fisher Brothers and JPMorgan
• Architects & Designers: The recent $25 million repositioning involved SRA Architecture & Engineering and the renowned David Rockwell and his Rockwell Group for the lobby redesign. Other firms involved in tenant fit-outs include TPG Architecture and Diaz Architect & Associates PC.
• Location Highlights: Unparalleled proximity to Grand Central Terminal, the United Nations Headquarters, and major subway lines (4, 5, 6, 7, S).

The Anchor Tenant Shockwave: Neuberger Berman’s Massive Exit

The most significant recent development at 605 Third Avenue is the departure of investment manager Neuberger Berman. The firm had maintained its global headquarters at this address since 1992, occupying a massive block of space. Neuberger Berman relocated its entire operation, vacating roughly 370,000 square feet of office space to move to 1290 Avenue of the Americas. This move, which took place over several phases, created one of the largest blocks of available office space in the Midtown East submarket. The sheer scale of this vacancy has been a major focus for the building's owners, Fisher Brothers, as they work to reposition the space for a new generation of corporate tenants. Despite this major departure, the building has historically maintained high occupancy, often above 95%. The current leasing strategy is focused on attracting large-block tenants to fill the void left by the financial giant.

4 Modern Amenities Driving the New Tenant Strategy

To compete for top-tier tenants in Manhattan’s post-pandemic office market, Fisher Brothers invested heavily in a $25 million capital improvement program. This initiative transformed the ground floor experience and added hospitality-focused features.

1. The David Rockwell-Designed Lobby

The centerpiece of the renovation is the stunning 14,000-square-foot lobby, designed by the internationally acclaimed David Rockwell. The space features a fine marble lobby, a completely renovated entrance, and a high-tech, welcoming atmosphere. A key artistic element is the ever-changing digital artwork installation known as Kaleidoscope, providing a dynamic and modern visual experience for tenants and visitors.

2. On-Site Hospitality and Conference Center

In a move to elevate the tenant experience, a second location for Ease Hospitality opened at 605 Third Avenue in 2022. This service provides tenants with high-end, on-demand meeting and event spaces, catering, and business support, transforming the building into a full-service corporate environment. The building also features an on-site conference center for general use.

3. Prime Location and Transportation Access

The building’s location is a massive selling point. Its proximity to Grand Central Terminal offers unparalleled access to Metro-North Railroad, the Long Island Rail Road (LIRR) via Grand Central Madison, and numerous subway lines. This makes the commute seamless for executives and employees coming from across the tri-state area. Furthermore, its location near the United Nations makes it a popular choice for international organizations and diplomatic missions.

4. Comprehensive Building Features

Beyond the aesthetics, the tower offers practical features essential for a modern Class A office:

• On-site parking garage.
• Modern security systems.
• High-speed connectivity and robust infrastructure.
• Availability of both full-floor and partial-floor spaces, including blocks on the 36th and 39th floors.

The Current Corporate Roster: Who Anchors 605 Third Avenue Now?

Despite the Neuberger Berman vacancy, 605 Third Avenue remains home to a prestigious and diverse list of corporate tenants, demonstrating its enduring appeal. The most prominent tenant is the Spanish-language media giant Univision, which has been headquartered here since 2013 and occupies approximately one-fifth of the entire building. The tenant mix is broad, spanning finance, law, media, and nonprofit sectors, providing a stable and varied corporate community.

Key Current Tenants and Entities

The building’s impressive tenant roster includes:

• Univision Communications Inc. (Major Anchor Tenant)
• Michelman & Robinson (Law Firm, recently inked a 20,000 SF full-floor lease)
• Informa (Events and Publishing Company)
• Broadridge Financial Solutions (Financial Services, with an 80,000 SF fit-out)
• Levy Konigsberg (Law Firm)
• Katsky Korins (Law Firm)
• Global X Fund (Financial Services)
• Wellspring Capital Management (Private Equity)
• Anti-Defamation League (ADL) (Nonprofit)
• Various Diplomatic Missions and United Nations-related nonprofits.

The active leasing and capital improvement programs confirm that 605 Third Avenue is not just surviving the shifts in the Midtown office market; it is actively repositioning itself as a premier, full-service corporate destination. The available large blocks of space, combined with the hospitality-focused amenities and prime location, ensure that the tower will continue to attract high-profile tenants for years to come.

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