Investment Manager Holocene Expands to 31K SF at 11 East 26th Street
Investment management firm Holocene Advisors is sticking with its NoMad offices and tacking on another 12,124 square feet, Commercial Observer has learned.
The tenant signed a lease for 31,383 square feet to move within Rockrose Development’s 11 East 26th Street, increasing from the 19,259 square feet it previously occupied in the property, according to landlord broker Newmark (NMRK).
Holocene extended its lease at 11 East 26th and expand to the adjacent 15 East 26th Street, which was recently combined into one address after Rockrose pumped about $70 million in upgrades to the two properties.
The lease term is for 11 years and five months while asking rent in the deal was $115 per square foot.
“This is an incredible opportunity for Holocene to expand their business as they take over a large floor plate often lacking in this neighborhood,” Newmark’s William Cohen, who represented Rockrose in the deal with Ariel Harwood, said in a statement. “Rockrose’s inspiring revamp of these buildings into one property creates a much-needed large best-in-class space for users looking for top-quality space in the trendy NoMad submarket.”
CBRE (CBRE)’s Ben Friedland, Taylor Scheinman and Gary Davies negotiated on behalf of Holocene Advisors but did not immediately respond to a request for comment.
Other tenants in the 21-story, 217,991-square-foot building include consulting firm Activate — which signed a lease for 12,083 square feet in April 2019 — as well as the National Museum of Mathematics, Butterfly Network and Ford Models.
Mark Hallum can be reached at email@example.com.