Investment banking firm GCA Savvian has signed a lease renewal for 10,400 square feet of space at RXR Realty’s 1330 Avenue of the Americas, where asking rents range from $90 to the low $100’s per square foot.
The firm renews its space on the 28th floor of the 526,000-square-foot building, known as a hub for boutique financial firms.
“1330 caters to very high-end financial services-type firms and they fit neatly into that niche,” said William Elder, director of leasing at RXR Realty. “We provide a boutique atmosphere and that’s the type of feel they are looking for.”
Among other firms in the building is Pearson, Silvercrest Asset Management Group, and a variety of smaller yet well-respected hedge funds and private equity firms. Harry Winston jewelry is also in the building.
“It’s good to see that [GCA Savian] recognizes the quality of the building and decided to stay with us for the foreseeable future,” Mr. Elder said. “We are happy because it’s a great brand.”
The Class A office building in the Sixth Avenue Rockefeller Center submarket, located between 53rd and 54th Streets in Midtown Manhattan, underwent an extensive $30 million dollar renovation by renowned firms Gensler and Moed de Armas & Shannon.
This year has seen a significant rise in office space pricing, attributable in no small part to a slew of triple-digit lease signed in high-end boutique hubs such as 1330.
As the second quarter of 2013 comes to a close, 28 triple-digit leases have been recorded, according to Cushman & Wakefield, which, annualized, reflects the highest number since 2008 and one that would trounce last year’s 35 such deals.
Agustus Field of C&W represented GCA in the lease.