Northwestern Mutual expands NYC footprint

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Financial services company Northwestern Mutual is expanding
its New York footprint, leasing two new offices in Harlem and Cedarhurst.

In Harlem, the company leased 4,000 s/f of office space at 1825 Park Avenue (pictured top) in a deal brokered by JLL.

1825 Park Avenue, AKA The Lee Building

And at 425 Central Avenue in Cedarhurst, Northwestern took 5,000 s/f of office space in a five-year deal brokered with The Andrews Organization.

According to TRD, Savanna recently listed the 135,000 s/f
Lee Building for sale at $75 million. Savanna, investment firm, headed by
Christopher Schlank and Nicholas Bienstock, bought the building for $48 million
in 2015.

As well as the deal with Northwestern Mutual, Beth Israel Medical Center also recently expanded its lease in the property, according to TRD.

“This exciting expansion is an opportunity to deliver
financial planning solutions to historically underserved communities,” said Tim
Gerend, chief distribution officer, Northwestern Mutual.

“We’re looking forward to developing deep community
relationships in both Harlem and Cedarhurst – providing meaningful financial
guidance to clients and offering rewarding career opportunities to current and
future advisors.”

Financial Advisor Anthony Williams will oversee the Harlem
office, comprised of several financial professionals who grew up in the
neighborhood or nearby in the Bronx.

Financial Advisor Moshe Alpert will lead the Cedarhurst
office in the predominately Orthodox Jewish community of Five Towns Long
Island.

Williams and Alpert will work in close partnership with Managing
Partner Steve Abbass, who collaborated with Northwestern Mutual’s new
Distribution Growth Ventures group to identify the opportunities in Harlem and
Cedarhurst. Northwestern Mutual Distribution Growth Ventures is focused on
underpenetrated market expansion, competitive recruitment and other innovation
within the company’s distribution system.

Northwestern Mutual delivers financial solutions to more
than 4.6 million people with life, disability income and long-term care
insurance, annuities, and brokerage and advisory services. The company manages
more than $161 billion of investments owned by its clients and held or managed
through its wealth management and investment services businesses.

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