Ulysses Management Relocates Within 1 Rockefeller Plaza With 12K-SF Lease
By Mark Hallum September 5, 2024 11:42 am
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This investment firm’s search for a new office wasn’t much of an odyssey.
That’s because Ulysses Management is moving from the 20th floor to the 19th floor in Tishman Speyer’s 1 Rockefeller Plaza with a new 12,586-square-foot lease, Commercial Observer has learned.
Asking rent for the space was $88 per square foot, according to tenant broker Avison Young, which did not disclose the length of the lease but said the tenant was downsizing from its current 19,000 square feet.
Ulysses moved into the building around 2000. 1 Rockefeller Plaza, formerly known as the Time & Life Building, is a 34-story tower midblock between Fifth Avenue and Avenue of the Americas, and between 48th Street and 49th Street.
“The renewal and relocation within 1 Rockefeller Plaza by Ulysses Management is consistent with similarly structured tenants who are rightsizing their space to better suit employees’ needs with regards to remote work and flexible hours,” Avison Young’s Larry Zuckerman, who represented the tenant, said in a statement. “After an exhaustive search, the vibrancy of Rockefeller Center and its world-class fine dining and retail amenities only strengthened the case for renewal.”
Blythe Kinsler and Samuel Brodsky negotiated in-house on behalf of Tishman Speyer, which did not immediately respond to a request for comment.
Ulysses has more than $1 billion in assets under management, including a real estate portfolio of unknown size with the firm investing primarily in distressed properties, according to the company’s website.
Other recent leases for Tishman Speyer in Rockefeller Center include clothing brand Alex Mill, which signed a 1,752-square-foot lease for a storefront at the base of 1 Rockefeller Plaza in late August, and Christie’s auction house renewing its 400,000-square-foot space at 20 Rockefeller Plaza just a week prior.
Mark Hallum can be reached at mhallum@commercialobserver.com.
