Global Securities Company Grabs 29K SF at Charles S. Cohen’s 623 Fifth Avenue
Terence Cullen Sept. 9, 2016, 11:45 a.m.
A technology-focused trading firm specializing in global securities has signed a two-floor lease to relocate its corporate headquarters to Fifth Avenue, Commercial Observer has learned.
Arxis Capital will occupy 29,000 square feet at the 400,000-square-foot 623 Fifth Avenue, according to a press release provided by landlord Charles S. Cohen.
“We’re delighted that one of the highly successful, new breed of technology-driven financial firms, has chosen 623 Fifth Avenue for their home,” Cohen, the head of Cohen Brothers Realty, said in prepared remarks.
Asking rent in the transaction was $95 per square foot, the release indicates. A source familiar with the deal said the lease is for five years.
Arxis, which was founded in 2014 by former Bank of America Merrill Lynch executives, is based at 527 Madison Avenue between East 53rd and East 54th Streets. The move will be a major upgrade for the company, as it leases 7,500 square feet at its current digs, a source said.
Silvio Petriello, Alexander Golod and Ben Friedland of CBRE represented the tenant, while Marc Horowitz of Cohen Brothers Realty along with a team from Colliers International. The tenant’s brokers declined to comment via a spokeswoman.
Formerly dubbed the Swiss Bank Tower, the building is also home to the flagship Saks Fifth Avenue store. The retailer leases nearly 80,000 square feet at the base of the 36-story structure, according to CoStar Group.