Platinum Partners Inks 250 West 55th Street Lease
Platinum Partners, a hedge fund with more than $1 billion in assets under management, has signed a 10-year lease for the entire 23,274-square-foot 14th floor of Boston Properties (BXP)’ 250 West 55th Street, Commercial Observer has learned.
The tenant, currently headquartered at Carnegie Hall Tower, will pay rent starting in the mid-$70s per square foot, according to data from CompStak. The terms are similar to the recent deal for Modern Bank, which Commercial Observer first reported last month.
Platinum Partners will also join Soros Fund Management and law firms Morrison Foerster and Kaye Scholer at the 1 million square-foot tower. As reported by Crain’s New York Business, Soros Fund Management, the investment firm headed by George Soros, signed a 100,000-square-foot lease at the building late last year.
Founded in 2003, Platinum Partners’ website describes the firm as a group of affiliated alternative investment managers. The firm was in the news in 2012 when it was revealed some of its funds had been defrauded by Ponzi schemer Scott Rothstein.
Peter Turchin, Christie Harle and Sam Seiler of CBRE (CBRE) represent Boston Properties at 250 West 55th Street. Platinum Partners was represented by Norman Bobrow of Norman Bobrow & Company. The brokers could not immediately be reached for comment.