TRB Advisors, a global direct investment business, has signed an early renewal for its 20,483 square feet of space at Boston Properties’ GM Building at 767 Fifth Avenue, Commercial Observer has learned.
Two weeks ago, the five-year-old company, which occupies part of the 12th floor, assumed a lease for 10 years plus three months, a source with knowledge of the deal said. The asking rent at the building between East 58th and East 59th Streets was approximately $120 per square foot.
JLL’s Alexander Chudnoff and Michael Higgins represented TRB Advisors in the deal, and Peter Hansen and Andrew Levin represented Boston Properties in-house. Neither company’s spokespeople immediately responded to a request for comment.
The lease was originally signed in 2006 by Atticus Capital, founded by Timothy Barakett in 2007, the founder of the five-year-old TRB Advisors. Atticus Capital closed in 2010.