Global Financial Services Firm Relocating to Seagram Building
Lauren Elkies Schram Aug. 13, 2014, 12:26 p.m.
Atlas Merchant Capital, founded by the former chief executive of Barclays, has signed a lease for 17,519 square feet on the entire 21st floor at RFR Realty‘s Seagram Building. The company is relocating from the 25th floor at 135 East 57th Street.
Located between 52nd and 53rd Streets, 375 Park Avenue is also home to Invemed Associates, which signed a 7,000-square-foot renewal, Fintech Advisory, which signed a 10,000-square-foot renewal and expansion, and Arden Asset Management, which renewed its 17,500-square-foot space spanning the entire 32nd floor.
Steve Morrows, RFR Realty’s executive vice president and director of leasing, represented the company in-house in the lease negotiations. RFR’s spokesman declined to provide the tenant’s broker in the deal. Atlas wasn’t immediately available for comment.
A source with knowledge of the deal told Commercial Observer the lease is for five years. Crain’s New York Business, which first reported the deal, quoted an executive at RFR as saying that asking rents in the building range from $160 to $170 per square foot.
Atlas was founded in 2013 by Bob Diamond, who left Barclays once news broke about the Libor scandal.