Finance Tech Firm Takes Space in Midtown East
A virtual financing network platform company has grabbed real-world office space in Midtown East.
CyndX, which connects growing companies with capital providers and executive talent in an online marketplace, moved into a 5,479-square-foot space on a portion of the 15th floor of RFR Realty‘s 757 Third Avenue this week, Commercial Observer has learned. The company signed a five-year lease for space at the property, which commands asking rents in the low $70s per square foot, RFR officials said.
“We’re pleased to welcome CyndX to 757 Third Avenue,” said Steve Morrows, the director of leasing at RFR, in a prepared statement. “This sophisticated financial services company increases the diversity of our tenant base and enhances the building’s profile in the local market.”
Mr. Morrows represented the landlord of the property that’s between East 47th and 48th Streets in-house, along with JLL (JLL) brokers Dan Turkewitz and Matt Polhemus. Cushman & Wakefield brokers Mike Burgio and Dan Organ negotiated on behalf of the tenant.
RFR implemented a $21 million capital improvement program starting in 2012 at the property, investing in new retail storefronts and refinishing the facade, among multiple other facelifts, according to RFR representatives. The improvements have paid off–CVS signed a 12,000-square-foot lease for a corner space in November and 180,000 square feet that KPMG vacated in 2012 has been fully leased by a variety of tenants, RFR officials said.
The company has placed the property on the market for sale, GlobeSt.com reported last month.
It wasn’t clear where the company has relocated from, RFR representatives said. Representatives for C&W didn’t immediately respond to a request for the information.