Related Woos Digital Trading Provider to 55 Hudson Yards From Fisher Brothers’ 299 Park
By Liam La Guerre August 23, 2016 2:00 pm
reprints
MarketAxess, which provides an electronic trading platform for investors, is the latest firm to decide to move to Related Companies’ planned 55 Hudson Yards office building.
The tenant has signed an 83,000-square-foot lease at the 1.3-million-square-foot office tower, which will be a part of the overall 17-million-square-foot Hudson Yards complex. Related is partnering with Mitsui Fudosan America and Oxford Properties Group to build the tower.
The terms of the deal were not disclosed. MarketAxess will occupy three full floors in the future building at 11th Avenue between West 33rd and West 34th Streets, according to The New York Post, which first reported news of the deal. It was not immediately clear on which floors the company will be based.
“Hudson Yards represents a perfect fit for our corporate mission to deliver innovative technology solutions to our clients,” Richard McVey, the chief executive officer of MarketAxess, said in a statement. “It is transformative, exciting, efficient and environmentally friendly.”
MarketAxess will relocate its global headquarters from Fisher Brothers’ 299 Park Avenue between East 48th and East 49th Streets, where it has the entire 27,900-square-foot 10th floor, according to CoStar Group. The firm will move 250 employees into 55 Hudson Yards after it is completed in 2018, a Related spokeswoman told Commercial Observer without providing further details.
“MarketAxess wanted to create a world-class, state-of-the-art environment for its employees and clients for its global headquarters, with the ability to attract top talent for its growing and expanding business,” CBRE’s Brad Gerla, who represented the tenant in the deal, said via a spokeswoman. “Hudson Yards filled that requirement.”
Robert Alexander and Howard Fiddle, also of CBRE, brokered the transaction on behalf of the landlords with Related’s Stephen Winter in-house. Alexander declined to comment via a spokeswoman.
Recently, billionaire Steven A. Cohen’s Point72 Asset Management inked a letter of intent to relocate to 175,000-square-foot offices in the planned 51-story tower, as CO previously reported. And law firms Boies, Schiller & Flexner and Milbank, Tweed, Hadley & McClow, have already signed deals for space at the building.
“The momentum at Hudson Yards continues unabated,” Jay Cross, who heads development for Related at Hudson Yards, said in prepared remarks. “The dynamic mixed-use development plan has attracted business leaders across all industries and we are thrilled to welcome MarketAxess, a prominent electronic trading platform, to the neighborhood.”
