Private Investment Firm Ups Tribeca Offices by 26K SF
Dorilton Capital Management, a private investment firm, has inked a deal to expand its Tribeca footprint to 35,500 square feet, Commercial Observer has learned.
The firm signed a 10-year lease to take 26,000 square feet on the entire 26th floor of the Rudin family’s 32 Avenue of the Americas between Walker and Lispenard Streets, a spokeswoman for the landlord said. Asking rent was $89 per square foot.
Dorilton Capital originally took 7,500 square feet on the 17th floor of the 27-story building in 2017 and plans to move into its new digs in the summer, the spokeswoman said.
Robert Steinman of Rudin Management Company, the operator of the Rudin family’s real estate assets, represented the landlord in the transaction while Byrnam Wood’s Gordon Ogden handled it for Dorilton Capital. Ogden declined to comment.
“Given Dorilton’s increasing headcount and need for more office space, our building at 32 Avenue of the Americas was able to provide the firm with the additional room that they needed to keep their business growing right here in Lower Manhattan,” Michael Rudin, a senior vice president of Rudin Management, said in a statement.
Other tenants in the 1.2-million-square-foot 32 Avenue of the Americas, which the Rudins bought in 1999, include iHeart Media, Verizon and New York University. The building is mostly occupied, with only 18,000 square feet vacant, according to Steinman.