Asset Manager Ditching Tribeca for Financial District

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Arles Capital Management will move its headquarters from Tribeca to RFR Realtys 17 State Street, Commercial Observer has learned.

SEE ALSO: Financial Firm Axioma Expands at 17 State Street

The asset manager inked a seven-year deal for 5,000 square feet on part of the 33rd floor of the 42-story building across from Battery Park, according to brokers on the deal. Asking rent was $75 per square foot.

JLL’s Dan Santagata and Kirill Azovtsev represented the tenant in the deal while RFR’s AJ Camhi handled it for the landlord in-house along with JLL’s Mitchell Konsker, Klayton Kline and John Wheeler.

“We were thrilled to assist Arles Management in finding and negotiating on new office space to host their executive offices,” Santagata said in a statement. “17 State Street is an iconic Downtown building and RFR is always a pleasure to deal with.”

Arles currently has its offices at 40 Worth Street between West Broadway and Church Street and plans to move to 17 State Street on March 1, according to Azovtsev.

It will join technology company IPsoft, commercial insurance provider Herbert Jamison and consulting firm EnTech Engineering in RFR’s 570,696-square-foot office tower.