Winton Capital Signs Lease at the Seagram Building
Gus Delaporte April 10, 2014, 2 p.m.
Winton Capital, a U.K.-based investment management firm, has signed a 4,100-square-foot lease at the RFR Realty-owned Seagram Building at 375 Park Avenue, Commercial Observer has learned. The tenant will take pre-built space on the 36th floor of the Plaza District property.
Headquartered in London, Winton Capital was founded by David Harding in 1997 and boasts approximately $24 billion in assets under management. The Wall Street Journal first reported the fund’s plans to open a New York office earlier this year.
“We’re seeing renewed strength in leasing, with more tenants in the market for space as we enter the second quarter,” said Steve Morrows, executive vice president and director of leasing at RFR Realty, in a prepared statement. “We’re currently offering both raw and prebuilt space in one of New York’s finest properties. The high-end prebuilt program offers great speed and flexibility for fast-moving companies, and Winton Capital found it was the right solution for their needs.”
Designed by Ludwig Miles van der Rohe and Philip Johnson, the Seagram Building was completed in 1958. The trophy tower, which was acquired by RFR Realty in 2000, is popular with financial services tenants and regularly commands rents in excess of $100 per square foot.
As reported by Commercial Observer, Arden Asset Management recently signed a 10-year renewal for its 17,484-square-foot space in the building. Arden Asset Management is paying rent starting in the low-$160s per square foot, according to CompStak.
Mr. Morrows represented the landlord in-house. Winton Capital was represented by Donald Direnzo, Jr. of Cushman & Wakefield.