Leases  ·  Office

Picus Capital Takes 6K SF in New Hudson Square Office Building

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Like its eponymous bird, tech investment firm Picus Capital is taking flight from its current U.S. headquarters in the Empire State Building and migrating to a penthouse in Hudson Square, Commercial Observer has learned.

The Germany-based firm signed a 6,520-square-foot, 10-year lease for the entire 12th floor of the newly constructed 60 Charlton Street, the first deal for the office property, according to landlord JLL.

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JLL declined to provide asking rents, but said average asking rents for similar space in the neighborhood was $93.85 in the second quarter of 2022.

“As return-to-work momentum grows, 60 Charlton will appeal to tenants seeking a premier location and market-leading amenities that provide a critical advantage in today’s race for talent,” JLL’s Mitchell Konsker, who brokered the deal for the landlords along with Benjamin Bass, Kristen Morgan, Carlee Palmer and Harrison Potter, said in a statement. “With its proximity to transportation and residential neighborhoods … we anticipate continued interest from progressive tenants eager to establish their presence.”

Cushman & Wakefield (CWK)’s Richard Bernstein and Troy Elias represented the tenant and did not immediately respond to a request for comment.

A joint venture among AEW Capital Management, APF Properties and Drake Street Partners purchased the former warehouse at 60 Charlton for $65 million in 2017 and redeveloped it into an office building. 

The owners preserved the facade of the original structure and built an additional six stories on top with a floor-to-ceiling glass exterior.

Mark Hallum can be reached at mhallum@commercialobserver.com.