Hedge Fund, Private Equity Firm Take Space at 34 East 51st Street

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Hedge fund Northwood Liquid Management and private equity firm Broad Sky Partners both inked deals for space at 34 East 51st Street in Midtown, Commercial Observer has learned.

In the larger deal, Broad Sky signed a five-year lease for 3,717 square feet on the entire 11th floor of Sedesco’s 21-story building between Madison and Park avenues, according to a source with knowledge of the deal. It will be Broad Sky’s first New York City office.

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Northwood signed a five-year lease for 3,400 square feet on the entire 14th floor of the property to move its offices from nearby 575 Fifth Avenue, the source said. 

Asking rents in both deals were $105 per square foot, and the leases bring 34 East 51st, which opened in 2016, to 95 percent occupancy.

JLLs Sam Seiler and Howard Hersch represented Sedesco in both deals. Bryan Boisi of Cushman & Wakefield handled it for Northwood, while Brad Needleman and Cooper Weisman of Newmark brokered it for Broad Sky. The C&W and JLL brokers declined to comment.

“We were proud to have helped Broad Sky secure their first NYC office,” Weisman said in a statement. “The private equity firm was drawn to the location as the new space offers a boutique full-floor presence and is in an amenity-rich, newly constructed building.”

Update: This story has been updated to include a statement from Cooper Weisman.

Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.