Global Investment Adviser Quantbot Expands in Grand Central Area Building
Quantbot Technologies, a global quantitative investment adviser, has renewed its lease and tacked on some additional square footage at 369 Lexington Avenue, Commercial Observer can first report.
The company signed an early renewal for the entire 6,183-square-foot ninth floor in the building between East 40th and East 41st Streets, and added 4,000 square feet on the seventh floor, said Benjamin Stavrach, the director of leasing and property management for the landlord, Triangle Assets, and who represented both sides in the deal. The leases are both for 10 years.
“At least from what I know, they’re doing really well,” Stavrach said. “They love the building and instead of terminating and moving, they waited until we found something suitable for them within the building so they could grow.”
Quantbot moved into the building, also known as The Lexington Tower, three years ago, Stavrach said. The company will assume the seventh-floor space, previously partially occupied by Ovation, on Aug. 1. (Permanent Mission of the Central African Republic to the United Nations took the remaining 2,183 square feet, as CO has reported.) Asking rents in the building are $69 per square foot. Stavrach noted that the building is now 100 percent occupied.
Other tenants in the 28-story, 175,000-square-foot property include Triangle Assets on the 4,860-square-foot 17th floor, Links of London, in 6,180 square feet amassing the entire sixth floor, Jay Suites in 30,000 square feet on two and three and Breather in 3,500 square feet, occupying the entire 22nd floor.