Melkonian Capital Management is relocating from 1120 Avenue of the Americas to 1 Bryant Park, a source with knowledge of the deal told Commercial Observer.
The New York-based investment advisory firm signed a deal through Sept. 30, 2018 in a sublease from global credit manager Marathon Asset Management. The space spans 7,168 square feet on a portion of the 39th floor at the 2.4-million-square-foot Durst Organization building at West 42nd Street. The asking rent was $100 per square foot.
Marathon Asset Management leases the entire 38th and 39th floors, totaling 72,000 square feet.
Robert Lowe and Nicky Dysenchuk, both of Cushman & Wakefield, represented the subtenant in the deal, and JLL‘s Alexander Chudnoff and Dan Turkewitz represented the sublandlord. C&W and JLL didn’t immediately respond to a request for comment via spokesmen.
Called the Bank of America Tower, 1 Bryant Park is home to the bank’s New York’s headquarters. Other tenants include alternate investment firm HBK New York and law firms McKool Smith and Akin Gump Strauss Hauer & Feld.