Knighthead Capital Grabs 12th Floor at 1140 Avenue of the Americas
Michael Ewing Aug. 20, 2012, 7:45 a.m.
Knighthead Capital Management LLC will be taking 12,750 square feet at Equity Office Properties’ 1140 Avenue of the Americas.
Found in 2008, Knighthead Capital operates as an employee-owned investment manager whose investments range from public equity to fixed-income markets around the world. Given the recent lease expiration and the desire to expand, the firm will be leaving its 4,000 square foot space at 623 Fifth Avenue for the entire 12th floor of the new building, explained Jeff Fischer, a vice president of Jones Lang LaSalle and the representative for Knighthead.
Mr. Fischer was joined by his colleague and vice chairman Scott Panzer in brokering the lease for the tenant. The landlord was represented by a leasing team consisting of Doulgas Neye and Ryan Masiello of Jones Lang LaSalle and the vice president of Equity Office’s leasing department, Josh Glick.
“Ownership recently completed an extensive capital improvement program to thoroughly renovate 1140 Avenue of the Americas,” said Mr. Neye in a prepared statement. “Tenants have been attracted to the high-end prebuilt suites that the landlord is providing. The boutique building is a rarity among the typical mammoth Sixth Avenue buildings, offering floor plates of just under 13,000 square feet that cater to boutique financial users. The newly transformed building offered Knighthead Capital a unique opportunity for a significant presence within what is essentially a new, modern, Class A, boutique asset.”
Knighthead Capital will be the latest of several finance firms that have signed leases in the building. Earlier this year, Waterfall Asset Management LLC signed for a 12,750 square foot space and City National Bank signed for 18,000 square in office and flagship retail space.