Trading Firm Moving Across Union Square
Terence Cullen March 27, 2015, 2:30 p.m.
Chimera Securities inked a deal for an entire floor at 27 Union Square West between East 15 and East 16th Streets, home to neighborhood staple the Coffee Shop, Colliers International informed Commercial Observer.
The 11,652-square-foot space is on the building’s fourth floor, which is getting a face lift before the firm moves in this summer, according to Colliers, which represented Chimera in the deal. The average asking price was $60 per square foot, brokers on both sides of the deal said.
Colliers’ Dimitry Levkov represented the tenant, and the landlord, Newmark Holdings, was represented in-house by company Principal Eric Gural.
The building is also home to BCB Property Management, which recently doubled its space to 8,000 square feet. The investing firm and its co-founder, Debrah Lee Charatan, have recently been in the news for Ms. Charatan’s marriage to recently-arrested Robert Durst on a murder warrant. Mr. Durst allegedly bankrolled BCB, run by his wife and her son, Bennat Charatan Berger, which helped the investors acquire several properties in the last few years, Crains New York Business reported.
Newmark Holdings is installing new windows to reduce outside noise and a new HVAC system for the office space, according to Mr. Gural, who described a steadily-productive firm like Chimera as the ideal tenant for the building.
“We’re a good fit for each other,” Mr. Gural said. “They’re a stable company, and we’re a stable company. I think they like having a landlord who has a long-term view.”
Chimera is moving from 225 Park Avenue South—just across Union Square from its new home. The new space will allow the firm of more than 100 traders to continue working in a convenient area in a sector-friendly space, Mr. Levkov said.
“They really wanted to stay in the area because it’s convenient to transportation, and most of the traders live in the area,” he said. “It’ll be a cool trading floor with an open-space vibe.”