Trading Firm GTS Takes 35K SF at 625 Avenue of the Americas

Trading firm Global Trading Systems (GTS) is opening a Chelsea office.

GTS has signed a 15-year lease for 35,156 square feet at 625 Avenue of the Americas, which is owned by a private company led by Charles and Channa Taub, according to a market report from brokerage CBRE. Asking rent was $85 per square foot.

RDE Advisors’ Ross Eisenberg brokered the deal for the landlord, while Norman Bobrow & Company‘s Norman Bobrow and David Badner represented the tenant.

“This new lease opportunity allows GTS to consolidate on a single office floor to allow for more employee interaction than our current multi-floor lease,” GTS CEO Ari Rubenstein said in a statement to Commercial Observer. “As a leading and growing market innovator, we believe cooperation is the key to developing sophisticated trading solutions for our clients.”

Charles Taub could not be reached for comment.

The deal represents a relocation for GTS, which will be leaving its 30,094-square-foot office at 545 Madison Avenue, according to a GTS spokesperson. The firm also has an office at 40 Wall Street, which it will be keeping.

GTS will be replacing former tenants eBay and PayPal on the third floor of the five-story Chelsea building after both companies’ leases expired, according to the New York Business Journal, which first reported the deal.

The property features amenities such as a new solar deck roof, a renovated lobby and 15-foot ceilings, Eisenberg said.

The building between West 18th and West 19th streets is also home to men’s telehealth startup Ro, which signed a 10-year lease to move its headquarters to 35,156 square feet at the property in November 2023.

Isabelle Durso can be reached at idurso@commercialobserver.com.