The Real Deal New York

Arxis Capital nabs 29K sf at 623 Fifth Avenue

Global securities firm relocating to Charles S. Cohen's office tower from 527 Madison Ave

September 09, 2016 01:45PM

611 Fifth Avenue (credit: CoStar) and Charles Cohen

Arxis Capital, a technology-focused trading company, inked a lease to take 29,000-square feet at 623 Fifth Avenue, the 400,000-square-foot office tower owned by Charles S. Cohen.

Arxis, founded by former Bank of America Merrill Lynch executives, will be taking two floors at the 400,000-square-foot office tower, a substantial upgrade from its current 7,500-square-foot digs at 527 Madison Avenue. Asking rents, according to the Commercial Observer, were $95 a square foot, and the lease deal was for five years.

Silvio Petriello, Alexander Golod and Ben Friedland of CBRE TRData LogoTINY represented Arxis in the deal. Marc Horowitz of Cohen Brothers Realty and Colliers International represented the landlord.

The 36-story tower at 623 Fifth Avenue, formerly known as the Swiss Bank Tower, is home to the Saks Fifth Avenue flagship store. The retailer leases 80,000 square feet on the lower floors.

Cohen, the president and CEO of Cohen Brothers Realty, also owns and manages the Decoration and Design Center at 979 Third Avenue and the Pacific Design Center in West Hollywood, California. [CO]Chava Gourarie