Financial Manager Renews at SL Green’s 485 Lexington Avenue
Offit Capital Advisors, an employee-owned finance firm, has inked a 10-year renewal at 485 Lexington Avenue, Commercial Observer has learned.
The firm will remain in its 14,206 square feet on the whole 24th floor of the SL Green Realty Corp.-owned building between East 46th and East 47th Streets, according to a press release from the landlord. Offit Capital has been based at the 921,370-square-foot property since September 2010, CoStar Group indicates.
Asking rent in the deal was $78 per square foot, according to an SL Green (SLG) spokeswoman.
“We are delighted that Offit Capital has elected to extend its occupancy with us,” Steven Durels, the head of leasing for SL Green, said in prepared remarks. “Leasing momentum in Midtown East and particularly in the Grand Central [Terminal] submarket has remained very strong this year.”
Larry Zuckerman of Newmark Grubb Knight Frank represented Offit Capital, while Natasha Brown represented SL Green in-house. An NGKF spokeswoman did not immediately return a request for comment.
Earlier this month, Tailwind Capital signed an early renewal for its full-floor space one level below on the 23rd floor, as CO previously reported. The investment firm is staying in its 14,206-square-foot office for an additional five years. Memorial Sloan Kettering Cancer Center signed a 54,200-square-foot sublease for seven years on the second floor of the building in February 2014.