Wavestone Leased Office Space at 511 Fifth Avenue

Wavestone has secured a new office location in Midtown Manhattan after relocating from 130 West 42nd Street.

Updated on Oct. 5, 2026 in Commercial

Wavestone Leased Office Space at 511 Fifth Avenue

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Wavestone has finalized a lease for 9,812 square feet of office space at 511 Fifth Avenue in Midtown Manhattan. The company will move its operations into the 13th floor of the historic 18-story building.

Why it matters

The relocation reflects Wavestone's shift to a property that offers modern amenities alongside its traditional Midtown positioning. This move places the firm in a 160,000-square-foot building that features shared facilities such as a fitness center and juice bar.

The leased space occupies the 13th floor of the building, which was constructed in 1915. For comparison, the average asking rent in Midtown Manhattan reached $80.71 per square foot during Q3 2026.

The players

Wavestone

Wavestone is a commercial tenant that has relocated its offices to 511 Fifth Avenue.

Cushman & Wakefield

Cushman & Wakefield is a global commercial real estate services firm that brokered the lease for Wavestone.

Newmark

Newmark is a commercial real estate advisory firm that represented the building ownership at 511 Fifth Avenue.

WeWork

WeWork is a flexible workspace provider that maintains a presence as a tenant within the 511 Fifth Avenue building.

The details

Cushman & Wakefield brokered the transaction for Wavestone, while Newmark served as the representative for the building ownership. The property provides tenants with access to shared amenities on the 15th floor, including a dedicated lounge area.

511 Fifth Avenue was originally built in 1915.
Midtown Manhattan office market rents were measured in Q3 2026.

Culture Shift

This move reflects a broader flight-to-quality trend where firms prioritize older, historic buildings that have undergone significant interior redevelopments to include modern amenity suites. By securing space at 511 Fifth Avenue, Wavestone follows a pattern of businesses clustering in updated properties near transit hubs.

The relocation will shift Wavestone's daily operations from 42nd Street to the 511 Fifth Avenue site. Employees will now have access to building-specific facilities like the 15th-floor fitness center and juice bar.

The takeaway

Office tenants continue to prioritize buildings that integrate lifestyle amenities directly into the workspace to enhance daily employee experience. This trend highlights the importance of redeveloped interior spaces when firms evaluate potential lease locations.