Investment Firm Signs Early Renewal for 20K SF at GM Building



TRB Advisors, a global direct investment business, has signed an early renewal for its 20,483 square feet of space at Boston PropertiesGM Building at 767 Fifth Avenue, Commercial Observer has learned.

SEE ALSO: Modern Bank Inks One-Year Extension at Boston Properties’ 250 West 55th Street

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.