Investment Manager Inks Early Renewal at 640 Fifth Avenue
Lauren Elkies Schram April 16, 2015, 3:05 p.m.
New York-based investment advisory firm Owl Creek Asset Management has signed an early lease renewal for 17,588 square feet at Vornado Realty Trust‘s 22-story 640 Fifth Avenue, Commercial Observer has learned.
The deal, for the entire 20th and partial 21st floors, is for five years and five months, a source with knowledge of the deal said. The firm’s initial lease was for 10 years and was slated to expire at the end of this year. The asking rents in the tower, which is between West 51st and West 52nd Streets, range from $105 to $120 per square foot, the source said.
Alexander Chudnoff of JLL represented the tenant and Vornado’s Glen Weiss and Jared Solomon brokered the deal on behalf of the landlord in-house.
The building at 640 Fifth Avenue is a 325,000-square-foot Class A office tower. Major tenants include Hitchwood Capital Management, Greentech Capital Advisors, Exane and Fidelity Investments Real Estate.
Vornado’s spokespeople didn’t immediately respond to a request for comment, and Mr. Chudnoff declined to comment.