Alternative Investment Manager Signs Early Renewal in Times Square Market
Lauren Elkies Schram Feb. 25, 2016, 10 a.m.
Argonaut Management is remaining at JSRE Acquisitions’ 546 Fifth Avenue at West 45th Street, Commercial Observer has learned.
The New York-based alternative investment manager, founded in 1993 by David Gerstenhaber, signed a lease for four years and two months for the entire 17th floor, a source said. The company has occupied that 8,673 square feet for the last eight years. The asking rent was $75 per square foot, the source indicated.
Argonaut Management, also known as Argonaut Capital Management, manages proprietary and client capital in a discretionary global macro strategy.
JLL’s Alexander Chudnoff and Harley Dalton represented the tenant in the deal and CBRE’s Neil King and Paul Amrich worked on behalf of the landlord. Neither firm’s spokesperson responded with comments from the brokers.
The 23-story property, built by Greycoat Real Estate Corporation in 1990, is comprised of 177,400 square feet. Other tenants include financial institutions Safra National Bank and Auriga USA as well as personal injury law firm Belluck & Fox.