Investment Firm Ellington Takes 20K SF at 711 Third Avenue

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Investment management firm Ellington Management Group inked a deal for 19,587 square feet at 711 Third Avenue, landlord SL Green Realty Corp. announced.

Ellington signed a five-year lease for part of the fifth floor of the 20-story building between East 44th and East 45th streets, according to SL Green. Asking rent was $63 per square foot.

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Ellington, which was founded in 1994, is headquartered in Greenwich, Conn., and also has an office in London. It plans to move into its New York City outpost in the second quarter of this year.

SL Green handled the deal in-house, while Stephen Baker and Andrew Ross of Cushman & Wakefield represented Ellington. A C&W spokesperson did not immediately respond to a request for comment.

“We’re pleased to welcome Ellington Management to 711 Third Avenue,” Steven Durels, director of leasing at SL Green, said in a statement. “This transaction comes on the heels of several recent new leases within our portfolio as leasing velocity increases due to tenants rapidly reentering the market now that vaccines are widely available, and companies announce plans to reboard employees back into the office.”

Other tenants in the building include law firm Goldberg Segalla, financial services firm Strategic Financial Solutions, and real estate debt brokerage Ackman-Ziff Real Estate Group.