Investment Adviser Moving From Chanin Building Across the Street
Lauren Elkies Schram Oct. 27, 2015, 4 p.m.
Quantbot Technologies, which designs, develops and deploys complex quantitative investment strategies globally, is relocating its offices nearby its current digs at the Chanin Building at 122 East 42nd Street, Commercial Observer has learned.
Last Friday, Quantbot signed a five-year lease for the entire ninth floor at 369 Lexington Avenue near East 41st Street, according to Benjamin Stavrach of Triangle Assets, the in-house broker for the landlord. The space is 6,134 square feet and the asking rent was $56 per square foot.
As for why the company is moving in on Feb. 1, Quantbot’s broker Brett Gartner from Rentra Commercial Real Estate said the company is expanding.
“It served their needs,” Mr. Gartner said. “They [get to] stay in the neighborhood. They like the space.”
The building is at 92 percent occupancy, Mr. Stavrach said. Other tenants include law firm Faruqi & Faruqi, which leases two floors spanning 13,000 square feet; jewelry company Links of London in 6,200 square feet on the entire sixth floor; and Triangle Assets’ corporate office on the 5,000-square-foot 17th floor.
Triangle Assets is investing $500,000 to gut the lobby. Upgrades will include a new porcelain tile floor, illuminated floor-to-ceiling onyx slabs on the wall, three glass swinging turnstiles and 12-foot ceilings.