Asset Manager Expands to 26K SF at 1350 Avenue of the Americas


1350 Avenue of the Americas.
1350 Avenue of the Americas.

A global alternative asset manager focused on event-driven investment opportunities has signed an early renewal and expansion at 1350 Avenue of the Americas, a source with intimate knowledge of the deal told Commercial Observer.

SEE ALSO: Real Estate Law Firm Cassin & Cassin Staying Put in Midtown East

P. Schoenfeld Asset Management occupies 20,000 square feet on the 20th and 21st floors at SL Green Realty Corp.‘s building between West 54th and West 55th Streets, and signed a 10-year lease to grow its space to 25,854 square feet amassing those two floors in their entirety, the source said.

Alexander Chudnoff of JLL and Steven Bauer of Cushman & Wakefield represented P. Schoenfeld Asset Management in the deal. Gary Rosen and Howard Tenenbaum of SL Green represented the landlord in-house. The brokers weren’t immediately available for comment through their spokespeople.

Asking rents ranged from the mid- to upper-$80s to $90s on the 20th and 21st floors, the source said.

The tenant’s lease was set to expire at the end of 2016.

Built in 1966, 1350 Avenue of the Americas is 35 stories with 585,156 square feet of commercial office and retail space. Notable tenants in the building include Amazon, Highbridge Capital Management, Kane Kessler and Rothstein Kass.