Financial Firm Marex Relocating to 40K SF at Rudin’s 560 Lexington Avenue

Financial services platform Marex is moving to a larger space in Midtown East.

The tenant, which specializes in providing services to the energy, commodities and financial sectors, has signed a new lease for 39,552 square feet at Rudin’s 560 Lexington Avenue in a relocation from its current 25,000-square-foot offices at 2 Grand Central Tower, which it will put up for sublease.

The asking rent at 560 Lexington, on the corner of Lexington Avenue and East 50th Street, was $84 per square foot, according to the New York Post, which first reported the transaction.

“560 Lexington has always been a premier Plaza District address, and our recent reinvestment in the building is shaping its next chapter,” Michael Rudin, co-CEO of Rudin, said in a statement. “Marex is a recognized leader in global financial markets.”

CBRE’s Peter Turchin, Brett Shannon, Eric Deutsch and Jacob Rosenthal negotiated on behalf of Rudin while JLL’s Matthew Astrachan, Seth Godnick and Kristina Kopans handled the deal for Marex.

“As it was acquired as part of a corporate transaction, [2 Grand Central Tower] was not originally designed to Marex’s specifications,” JLL’s Astrachan said in a statement. “The 560 Lexington space will be customized to fully align with the firm’s future needs.”

CBRE did not immediately respond to a request for comment.

Other recent deals in Rudin’s 22-story, 380,000-square-foot office tower include a 17,778-square-foot lease for hedge fund SummitTX Capital in early March and a 20,000-square-foot deal for coworking firm Industrious around the same time.

Marex has 40 offices across the globe and owns companies such as exchange-traded European grain company Arfinco, crude oil and renewable energy firm CSC Commodities and recycled metal specialists Tangent Trading. 

Mark Hallum can be reached at mhallum@commercialobserver.com.

Update: An earlier version of this story reported that Marex was downsizing from an 80,000-square-foot block at 2 Grand Central Tower. The tenant, however, only occupied 25,000 square feet of that space.