Private equity secondaries market specialists Coller Capital has inked a new lease for 11,542 square feet at 950 Third Avenue, The Commercial Observer has learned.
The company will be moving out of its current offices at 410 Park Avenue to the 32-story office tower on 57th Street and Third Avenue. Coller Capital will have its own floor on the 29th floor at 950 Third Avenue.
Asking rent in the 10-year-lease was in the mid-$60s. Mikael Nahmias and Jared Horowitz of Cushman & Wakefield represented Naomi and Andre Althoz, who bought the 356,020 square foot building for $74.4 million in 2010.
Rick Marek and Scott Grayson of The Vortex Group represented Coller Capital in the deal.
Coller Capital will be leaving a 7,933 square foot office space at the 7th floor of 410 Park Avenue, according to CoStar data.
“They wanted to get something with more light and views,” said Mr. Nahmias. “There current space, as it was laid out, didn’t really work out for them,” he added.
The company’s new space at 950 Third Avenue offers views of both the Hudson and East rivers, along with northerly and easterly views of Manhattan.
“The floorplate itself, which is a rectangle for all intensive purposes, is easy to lay out,” said Mr. Nahmias.
“950 Third Avenue is a great location for them,” he added.
Coller Capital bills itself as “the leading global investor in private equities secondary market.”
The company offers financing to investors who may be desiring an early exit from their private equity investments. Those investments may range from Limited Partner positions or direct investments in privately-held companies, according to Coller Capital’s website. It has offices in London and Hong Kong in addition to its New York City headquarters.
This year, the company closed Coller International Partners VI, a $5.5 billion secondaries fund and the firm’s sixth-such fund.