Financial Trading Tech Firm Relocating to Nearby 622 Third Avenue
Chicago-based HC Technologies has signed a seven-and-a-half-year lease to relocate its New York offices to an 8,000-square-foot space in Cohen Brothers Realty Corporation‘s 39-story 622 Third Avenue, Commercial Observer has learned.
The company will relocate early next year from its current offices three avenues away at 286 Madison Avenue between East 40th and East 41st Streets to the sixth floor of 622 Third Avenue between East 40th and East 41st Streets. Asking rent in the deal was $60 per square foot, according to Marc Horowitz of Cohen Brothers.
Mr. Horowitz and a Colliers International team of David Glassman, Robert Tunis and Joseph Cabrera represented the landlord in the transaction.
“Our floor plan, even though it’s a large plate, divides beautifully and it’s highly windowed and minimally columned,” Mr. Tunis told Commercial Observer. “I think that was extremely attractive.”
Founded in 2007 and formerly known as Henning-Carey Proprietary Trading, HC Technologies designs, builds and operates trading platforms for financial transactions.
The company’s current digs are about 2,300 square feet. It needed to relocate to accommodate its growth, according to Joseph McLaughlin of Capstone Realty Advisors, who represented the tenant in the transaction along with colleague Thomas Murtha.
“A lot of it had to do with the growth and also they needed to be a in a building with a greater choice of Internet providers,” Mr. McLaughlin said. “That building at 622 Third Avenue has a slew of providers so that was also a big draw.”
Within the past few months there has been a barrage of leases signed in 622 Third Avenue. Employment agency Michael Page International inked a deal for the entire 26,500-square-foot 29th floor, as Commercial Observer reported last month.
And recently Money20/20, a networking and events company, signed a 4,500-square-foot lease for more than seven years. The company will move into part of the 35th floor by the end of the year.
Developer Triple Star Realty also signed a seven-and-a-half-year deal for a 4,000-square-foot office space on the 33rd floor. The company is expecting to moving in early next year.
Other tenants in the building include Monster Worldwide, EZE Software Group, Hill Holliday, Erwin Penland, MRM Casanova, Orion Holdings, TMP Worldwide and Sterling National Bank.