Hedge Fund Christofferson Robb Moving to 19K SF at 680 Fifth Avenue
By Abigail Nehring September 3, 2024 1:17 pm
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An alternative asset manager will move its headquarters two blocks south on Fifth Avenue, Commercial Observer has learned.
Christofferson, Robb & Company signed a 10-year lease for 18,800 square feet across the 10th and 11th floors, plus a private terrace, at Josef Buchmann’s 680 Fifth Avenue, according to landlord broker JLL (JLL).
Asking rent at the 27-story office tower next to the Museum of Modern Art on West 54th Street was in the high $80s per square foot, a spokesperson for JLL said.
Christofferson Robb was founded in 2002 and currently has its headquarters on the 13th floor of 720 Fifth Avenue at the corner of West 56th Street, according to its website. It also has an office in London.
The company joins a growing list of New York City tenants forgoing a far relocation across Manhattan and instead opting for a new space only a few blocks away.
Christofferson Robb’s move to 680 Fifth comes after property manager Valor Capital Partners completed a renovation of the Midtown property, adding a new glass curtain wall, according to JLL.
“680 Fifth Avenue is undergoing a remarkable transformation, blending its historic Art Deco charm with cutting-edge design and functionality,” Valor’s Roy Bajtel said in a statement.
That renovation also helped attract Swarovski to the retail space at the base of the building in 2022 for a 14,000-square-foot flagship, as CO previously reported.
JLL’s Carlee Palmer, who represented the landlord along with David Kleiner and Margaux Kelleher, said in a statement the property stands apart from other office buildings in Midtown because of its “ideal location, high-touch amenity program and understated elegance.”
Newmark (NMRK)’s David Falk and Eric Cagner arranged the deal for CRC and did not respond to requests for comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
