Leases  ·  Office

$8B Hedge Fund ExodusPoint Capital Expands at Park Avenue Tower


Fresh off two significant leases at Park Avenue Tower, landlord EQ Office has inked an expansion deal for hedge fund ExodusPoint Capital at the 36-story property, Commercial Observer has learned.

ExodusPoint will grow by 17,832 square feet, bringing its footprint to 35,710 square feet on the entire ninth and 10th floors of the building at 65 East 55th Street in Midtown East, according to a release from the landlord. The hedge fund, which launched in June with a reported $8 billion in capital, has occupied the entire ninth floor since March. The length of the expansion deal wasn’t disclosed. Asking rent in the building ranges from $90 to $150 a square foot.

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Scott Silverstein, the leasing manager at EQ Office, said in a statement that the Michael Gelband-led firm “is a valued tenant at Park Avenue Tower, and we are pleased to accommodate the firm’s impressive growth. Park Avenue Tower has become the preferred destination for the city’s most cutting-edge and sophisticated companies.”

EQ Office was represented in-house by Silverstein and Simon Wasserberger, as well as by a Newmark (NMRK) Knight Frank team of Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman. NKF’s Neil Goldmacher, Brian Goldman and Matthew Lorberbaum negotiated the lease for the tenant.

An NKF spokesman didn’t immediately respond to a request for comment.

Other recent leases in the building have included a 65,000-square-foot deal with financial services firm BTIG and a 24,640-square-foot lease with tech security firm CLEAR.