Commodities Trader Trammo Takes 7K SF at 8 West 40th Street

reprints


Commodities trader Trammo will move its offices from the Upper East Side to a full floor at 8 West 40th Street, Commercial Observer has learned.

Trammo signed a 10-year lease for 6,667 square feet for the entire 12th floor of the Midtown South office building between Avenue of the Americas and Fifth Avenue, according to the landlord Jack Resnick & Sons. Asking rent was in the low- to mid-$60s per square foot. 

SEE ALSO: NYC Commercial Rent Control Bill Comes Under Fire During City Council Hearing

It finalized the deal in the first quarter of this year and Trammo plans to relocate from its Upper East Side location at 667 Madison Avenue in the summer.

The American Friends of Tel Aviv University (AFTAU) also recently leased a full floor of the building, according to Resnick. A spokesperson for Resnick declined to comment on the length of the lease, the square footage and when AFTAU would occupy the space. The AFTAU lease, however, is likely for around 7,000 square feet, given other previous full-floor leases. 

The fundraising organization is relocating from 39 Broadway in the Financial District. 

“We are excited to welcome Trammo, Inc. and the American Friends of Tel Aviv University to 8 West 40th Street,” Jonathan Resnick, president of Jack Resnick & Sons, said in a statement. “These commitments are a positive signal not just for the future of Manhattan’s office market and the Bryant Park district, but for New York City as a whole.”

Greg Taubin of Savills represented Trammo, while Glenn P. Roberts of Fenway Equities brokered the deal for AFTAU. Brett Greenberg and Fran Delgorio of Resnick handled it in-house for the landlord.

Other tenants in the building include Marchon Eyewear, Middlegate Securities, Jack Victor, Vision Service Plan, Altman Foundation, Hakimian Management Corp., Panthera, and WeWork.