International boutique investment banking firm Marlin & Associates is relocating its headquarters to 570 Lexington Avenue and expanding its office space in a 10-year lease.
The firm has secured 6,748 square feet, the entire penthouse duplex, on the 48th and 49th floors of the landmarked Art Deco office tower, which sits on Lexington Avenue and East 51st Street.
According to a press release issued by Savills Studley, the firm that represented Marlin & Associates in negotiations, the company currently occupies 4,000 square feet at 600 Lexington Avenue and is expected to move in the summer of 2015.
Asking rents were in the high $80’s per square foot.
Savills Studley’s Lance Leighton and Michael Bertini represented Marlin & Associates.
“From the initial meeting with Ken Marlin, who is the founder and managing partner, he really made it clear that he was looking for unique space with ‘wow’ factor and really liked the neighborhood that he was already in,” said Mr. Leighton. “Views and having a full-floor identity were important, as well as being in a convenient neighborhood.”
The Feil Organization’s David Turino represented the landlord in-house.
“We made the decision to cut the floor-slab of the 49th floor and install an architecturally distinctive stair connecting it to the 48th floor in order to create a dramatic space with soaring ceiling height to complement the spectacular penthouse views,” said Mr. Turino in prepared remarks.
Marlin & Associates also has offices in San Francisco, Washington, D.C. and Toronto.