Siris Capital Signs 6K-SF Lease at 825 Third Avenue
By Mark Hallum June 3, 2024 4:32 pm
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Private equity firm Siris Capital has relocated its New York offices to one of the Durst Organization’s prebuilt spaces at 825 Third Avenue, Commercial Observer has learned.
The tenant signed a 6,079-square-foot lease for part of the 28th floor of the building that has undergone $150 million in capital improvements, according to the landlord. Siris already moved from its old space about four blocks away at 601 Lexington Avenue.
Durst did not immediately disclose the length of the lease but said that asking rent in the prebuilt suites, known as DurstReady, is $102 per square foot.
“The DurstReady suites at 825 Third Avenue offer the perfect blend of convenience and amenities, designed to meet the evolving needs of forward-thinking businesses,” Jonathan “Jody” Durst, president of Durst, said in a statement.
Tom Bow, Ashlea Aaron and Bailey Caliban represented Durst in-house in the transaction while Robert Emden and David Emden of Newmark (NMRK) negotiated on behalf of the tenant. Newmark did not immediately respond to a request for comment.
Siris was founded in 2011 and currently has about $7 billion in assets under management, according to the company. It also has offices in West Palm Beach, Fla.
825 Third Avenue is at the corner of Third Avenue and East 50th Street. Tenants include solar developer Dimension Renewable Energy, which signed a lease for 11,054 square feet on the entire 18th floor in February, and sports data and technology company Genius Sports, which took 11,870 square feet on the entire 26th floor in September 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
