Alternative asset management firm Arden Asset Management has signed on for another 10 years on the 32nd floor of RFR Holdings’ Seagram Building.
Arden inked a deal for a rental rate of $160 per square foot, which will kick in following eight months of free rent. Such three-digit deals are not unusual at 375 Park Avenue, where Singapore-based sovereign wealth fund Temasek signed on for a full floor at $145 per square foot last year.
Steve Morrows and AJ Camhi represented RFR in-house on the Arden deal, while Newmark Grubb Knight Frank’s Brian Goldman and Erik Harris represented the tenant, the New York Observer reported, citing CompStak data. Arden has been in the Seagram Building since 2005. Goldman declined to comment to the Observer. [NYO] — Julie Strickland