Wavestone Leased Office Space at 511 Fifth Avenue
The firm is relocating its New York City offices to the 13th floor of a historic 18-story building in Midtown Manhattan.
Updated on Oct. 5, 2026 in Commercial
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Consulting firm Wavestone has secured a 9,812-square-foot lease at 511 Fifth Avenue. The company will move its local operations from its current office located at 130 West 42nd Street.
Why it matters
The relocation places Wavestone in a 160,000-square-foot facility that has been redeveloped to include modern amenities like a fitness center and juice bar. This shift comes as office occupiers continue to prioritize buildings that provide expanded service offerings for their employees.
The new lease covers 9,812 square feet of space at 511 Fifth Avenue, an 18-story building originally constructed in 1915. This total sits within a larger 160,000-square-foot office and amenity portfolio located in the Midtown Manhattan submarket.
The players
Wavestone
A consulting firm currently relocating its New York City workforce to a new office location.
Cushman & Wakefield
A global commercial real estate services firm that represented the tenant in this lease transaction.
Newmark
A commercial real estate advisory firm that served as the representative for the building ownership.
WeWork
A provider of flexible workspace and coworking environments that serves as a current tenant in the building.
The details
The building at 511 Fifth Avenue offers centralized amenities including a 15th-floor lounge, a juice bar, and a fitness center. Cushman & Wakefield managed the lease negotiation for Wavestone, while Newmark acted on behalf of the building ownership. The property is currently occupied by multiple tenants, including WeWork.
Timeline
511 Fifth Avenue was built in 1915.
The average asking rent for Midtown Manhattan was measured in Q3 2026.
The Home Front
This move highlights the ongoing corporate commitment to Midtown Manhattan's commercial core as companies seek refreshed, amenity-rich office environments. The shift aligns with current regional rent trends established by the Q3 2026 average of $80.71 per square foot.
If you are a commercial tenant or business owner, consider how proximity to transit hubs like Grand Central Terminal influences your own lease choices. Review your current office lease terms and amenity access to see how they compare to modern standards in the Midtown Manhattan area.
The takeaway
Commercial office tenants are increasingly favoring buildings with built-in lifestyle amenities that extend beyond standard desk space. Business owners should track local market trends like average square-foot pricing to evaluate the competitiveness of their current lease agreements.
Further reading
For more updates on the local market, visit New York City Commercial.
Source note: This article includes information reported by Commercial Observer.
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