Financial Services Firm Euclidean Capital Opening 23K-SF Office at 149 Fifth Avenue

Financial services firm Euclidean Capital is opening an office at 149 Fifth Avenue, one block south of the landmark Flatiron Building, Commercial Observer has learned.

Euclidean, which specializes in investment management and advisory services, has signed a lease for 23,000 square feet on two floors of the 16-story office building owned by William Colavito Incorporated, according to a source with knowledge of the deal.

The deal represents a new location for Euclidean, which also has offices down the street at 160 Fifth Avenue, according to its LinkedIn page.

The length of the lease and asking rent were not disclosed, but a report from Newmark found office rents in the Flatiron District and around Union Square averaged $78.51 per square foot during the fourth quarter of 2024.

Savills’ Peter Hennessy brokered the deal for the tenant, while Newmark (NMRK)’s David Falk and Jason Greenstein represented the landlord.

Newmark declined to comment, while spokespeople for Euclidean, William Colavito and Savills did not immediately respond to requests for comment.

Euclidean is the family office of the late Jim Simons, a former money manager and investor in New York City, the source said. Simons, who founded hedge fund Renaissance Technologies in 1982, had a net worth of $31.4 billion before he died last year, according to Forbes.

This deal marks an expansion of Simons’s office foundation in Midtown South, according to the source.

Other tenants of the building between East 21st and East 22nd streets include beauty salon Butterfly Studio Salon, outdoor clothing retailer Arc’teryx and real estate firm Core.

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