Garnet Credit Leases 9K SF at 600 Lexington Avenue
The deal was one of three recently signed in the Midtown tower
By Amanda Schiavo March 4, 2025 4:39 pm
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Financial services firm Garnet Credit Management signed a new five-year lease at 600 Lexington Avenue, taking over 8,875 square feet of space at the W.R. Berkley-owned office tower, according to the landlord broker.
Garnet is one of three recently signed leases at 600 Lexington that together total 31,274 square feet. The leases were announced by Cushman & Wakefield (CWK), which represented the landlord in all three deals, each of which were signed in the last 30 days. It’s unclear if it’s a new office or a relocation for Garnet.
Meanwhile, alternative asset management trade association Managed Fund association signed a three-year, 8,577-square-foot lease at 600 Lexington Avenue, C&W said. It is not clear if the company moved from another location.
Finally, investment adviser MKP Capital Management signed an 8,577-square-foot lease renewal totaling 12 years at the Plaza District Building. MKP has been occupying the 16th through 18th floors of the 300,000-square-foot building since 2010, when the building was owned by SL Green Realty, as Commercial Observer previously reported.
The firm previously renewed its 25,995-square-foot offices at the building in 2016, CO reported at the time. It’s unclear when it dropped to 8,577 square feet.
Asking rent was $88 per square foot, a source close to the deals told CO.
Garnet was represented by Newmark (NMRK)’s Aaron Winston, Eric Zemachson, Neil Goldmacher and Chris Mongeluzo. Transwestern’s Patrick Heeg and Chase Gordon handled the deal for Managed Fund, and Savills’ John Mambrino, Patton Mooney and Michael Bertini brokered it for MKP.
Newmark declined to comment. Heeg, Gordon and Savills did not immediately respond to a request for comment.
Harry F. Blair, Natalie Tobar-Romero, and Harry Blair IV from C&W represented the landlord in each lease.
“We are proud of the exceptional leasing momentum at 600 Lexington Avenue,” Harry F. Blair said in a statement. “This latest activity underscores the property’s reputation as a premier office destination and reinforces its position as a sought-after address for businesses looking to enhance employee experience and accessibility.”
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
