Nigol Koulajian’s Quest Partners to Move to 13K SF at 110 East 59th Street
By Abigail Nehring June 14, 2024 10:44 am
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Quantitative hedge fund Quest Partners is on the move in Manhattan’s Plaza District, Commercial Observer has learned.
The investment firm signed an 11-year lease for 13,284 square feet across the entire 36th floor of 110 East 59th Street between Park and Lexington avenues, landlord Jack Resnick & Sons announced.
A spokesperson for Resnick declined to share the asking rent, but average asking rent for office space on the Park Avenue corridor in Midtown was $101.47 per square foot in the first quarter of 2024, according to a report by Cushman & Wakefield.
Quest was founded by Nigol Koulajian in 2001 and currently manages a $2.4 billion portfolio, according to its website. The New York-based firm will move out of its current digs just three blocks away in Tower 56 at 126 East 56th Street early next year.
Quest’s departure from Tower 56 comes a little over a year after Sovereign Partners bought the property for $113 million, according to city property records.
CBRE (CBRE)’s Hugh McDonald and Munish Viralam arranged the deal for Quest Partners and declined to comment.
Jack Resnick & Sons was represented in-house by Brett Greenberg and Fran Delgorio.
Resnick President Jonathan Resnick described the 37-story office tower as one of the firm’s “leading assets.”
“This transaction reflects the enduring quality, appeal and first-rate management of 110 East 59th Street,” Resnick said in a statement.
Other tenants on the roster include financial services firm Cantor Fitzgerald, cosmetics company Estée Lauder, biopharma investor Royalty Pharma, hedge fund Mason Capital and private equity firm ZMC Advisors.
Abigail Nehring can be reached at anehring@commercialobserver.com.
