Jump Trading Signs On For 20K S/F At 15 East 26th Street
Daniel Geiger Aug. 2, 2012, 11:58 a.m.
Jump Trading has signed a nearly 20,000-square-foot lease at 15 East 26th Street the building’s landlord Savanna announced.
The company will take the property’s entire third floor for 11 years. Asking rents for the space were $55 per square foot.
Savanna bought a condo interest in 15 East 26th Street at the beginning of the year, acquiring the first eight floors in the 20-story building, which total about 150,000 square feet, for nearly $60 million. The top 12 stories in the 370,000-square-foot building were converted into residential condo apartments previously.
Jump Trading is a financial firm that specializes in algorithm-based equities trading. The space at 15 East 26th Street has views of nearby Madison Square Park, an area that has attracted leasing activity in recent months. Last week, IMG Worldwide, a media and marketing company, leased 30,000 square feet at 200 Fifth Avenue, another office property abuting the park.
Before that, in recent weeks, Yext, a tech firm that specializes in optimizing internet search results for companies, took 40,000 square feet at One Madison Avenue, another building on the park.
“The neighborhood is attracting technology, finance, entertainment, and media companies coming from Midtown Manhattan seeking cool and creative space surrounded by all the great amenities the area has to offer,” Mitchell Konsker, a vice chairman at Jones Lang LaSalle, said in a statement released by Savanna. Mr. Konsker, along with colleagues Matt Astrachan, Matt Polhemus and Brittany Wunsch represent Savanna at the property and oversaw the lease with Jump Trading.
Gilbert Ohls, Matt Felice and Matt Carolan, who are also executives at JLL, represented Jump Trading in the deal.
Savanna has renovated 15 East 26th Street since acquiring its space, which it credited with helping to lure the transaction.
“Our modernized lobby, which will be completed this summer, along with other select building improvements, is positioning 15 East 26th Street as one of the premier office buildings in the neighborhood,” Andrew Kurd, an associate at Savanna said in a statement.