Boston Properties Inks Another Finance Firm at 250 West 55th Street
Terence Cullen Jan. 22, 2016, 11:45 a.m.
Sachem Head Capital Management has signed a 14,542-square-foot lease on the 34th floor of the 1.1-million-square-foot tower between Broadway and Eighth Avenue, according to a press release from CBRE. The deal is for 10 years, and the asking rent was $120 per square foot.
The company is expected to move into the 38-story building this September, according to the brokerage, which represented both sides in the deal. Sachem Head Capital Management is moving from 399 Park Avenue between East 53rd and East 54th Streets, also known as the Citibank Building.
Peter Turchin, Christie Harle, Sam Seiler and Caroline Merck of CBRE represented the landlord, while colleagues Sinclair Li and Daniel Wilpon represented the tenant.
“This still new-to-the-market property encompasses all the features desired by a successful financial services company,” Ms. Harle said in prepared remarks. “The building maximizes light with its massive windows and column-free floor plate, which sets the stage for soaring Central Park views.”
The three-year-old building has drawn a number of companies dabbling in the legal and financial sectors. Dwight Capital, a commercial mortgage banking and investment firm, moved into 5,800 square feet on the 30th floor in September, CO reported at the time. Law firm Watson Farley & Williams signed a deal for 30,400 square feet in July—joining other law firms such as Morrison & Foerster and Kaye Scholer.