Investment Firm Moving Within Midtown Tower to Pre-Built Office
Terence Cullen March 30, 2016, 2:15 p.m.
HT Capital Advisors, a longtime tenant of William Kaufman Organization’s 437 Madison Avenue, will move to a new pre-built space in the Midtown structure, Commercial Observer has learned.
The New York-based investment firm will move from the 39th to the 19th floor of the building between East 49th and East 50th Streets, according to a press release from the landlord. HT Capital Advisors is taking 4,092 square feet in the five-year lease.
Asking rents at the 850,000-square-foot building range from $80 to $110 per square foot, the release indicates.
HT Capital Advisors didn’t have brokers in the deal, while Michael Lenchner of Sage Realty, William Kaufman Organization’s leasing and management arm, represented the landlord in-house along with Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster of JLL.
The company has been based in 4,300 square feet at the property since 1990, according to CoStar Group. A spokeswoman for the landlord said that HT Capital Advisors wanted to stay in the building and liked the finishing of the pre-built spaces.
“We could not ask for a more proactive and supportive landlord,” Eric Lomas, the president of HT Capital Advisors, said in prepared remarks. “They bring a new dimension to the concept of service and partnership.”
Mr. Lenchner said in the release that William Kaufman Organization is developing pre-built spaces on the 19th, 28th, 32nd and 34th floors. Cyber security firm Darktrace Limited is taking one of those spaces on the 32nd floor in a five-year deal as well, according to the release. The company inked a deal for 3,807 square feet at the 40-story structure. Daniel Posy and Jason Roberts of Savills Studley represented the tenant in that deal.
“The new designed space, which is in the heart of New York City, will make for a perfect location to build upon Darktrace’s growing global presence,” said Darktrace Chief Executive Officer Nicole Eagan in a statement.