Hedge Fund BlueCrest Capital Moving to 22K SF at 450 Park Avenue
By Mark Hallum August 23, 2023 2:50 pm
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BlueCrest Capital Management is relocating within Midtown East to 21,640 square feet at SL Green Realty’s 450 Park Avenue.
The British-American hedge fund signed a 15-year lease to move to the 30th and 31st floors of the building at East 57th Street and Park Avenue — where Aston Martin recently opened a ground-floor showroom — from Boston Properties‘ GM Building at 767 Fifth Avenue, according to SL Green.
Asking rent in the building is $165, according to the landlord.
“450 Park Avenue is the ideal address for high-profile firms seeking a combination of high-quality work environment, prestigious location and exciting amenities,” Steven Durels, SL Green’s director of leasing, said in a statement.
Daniel Posy and Joseph Messina of JLL (JLL) represented BlueCrest in the deal while Paul Amrich, Neil King, Alexander D’Amario and Maxwell Tarter of CBRE (CBRE) negotiated on behalf of SL Green.
CBRE declined to comment while JLL did not immediately respond to a request for comment.
SL Green purchased the building in April 2022 from Oxford Properties and Crown Acquisitions for $445 million, Commercial Observer reported at the time.
Mark Hallum can be reached at mhallum@commercialobserver.com.
