Investment Firm Axonic Capital Finds New Home in 16K SF at 520 Madison
Axonic Capital, an investment manager, is relocating within Midtown East.
The eight-year-old financial firm has nailed down a 16,167-square-foot, 10-year lease at Tishman Speyer’s 520 Madison Avenue, according to information from Cushman & Wakefield, which represented the tenant in the deal. The company will relocate one block west from 10,700 square feet on the 15th floor of 390 Park Avenue, also known as Lever House, to the entire 42nd floor of 520 Madison Avenue. Both buildings are between East 53rd and East 54th Streets. Axonic manages roughly $2.6 billion in assets, including real estate, systematic fixed income and structured credit, and it originates mezzanine loans for commercial properties.
“As a commercial real estate landlord and lender ourselves, we took this opportunity to create our own space that reflects our culture and allows for growth,” Axonic Founder Clayton DeGiacinto said in prepared remarks. “Our goal is to create a productive, bright and comfortable environment for our employees and our clients.”
Cushman & Wakefield’s Jonathan Luttwak brokered the transaction for Axonic, and Tishman Speyer handled the lease in-house and didn’t immediately return a request for comment.
“At 520 Madison, Axonic Capital will have an entire floor, increased natural light, great views and a quality landlord that supported a lease structure that met the tenant’s real estate needs,” Luttwak said in a statement.
The 43-story office tower at 520 Madison Avenue was constructed in 1982 and includes two restaurants, a tennis court for tenants, an outdoor plaza with a segment of the Berlin Wall and a rotating art program in the lobby.