Asking rent for the 32,000-square-foot space was north of $175 per square foot, as Jones Lang LaSalle’s leasing agent Scott Panzer told Crain’s. Tiger is relocating from 101 Park Avenue, and will take the new space at West 57th Street for 10 years. The law firm Shearman & Sterling, which served as legal counsel on several incoming leases at the building, estimated to Crain’s that the deals will tuck a cool $400 million in gross rent over the course of their lives into the billionaire’s pocket.
Paul Amrich, a leasing broker with CBRE Group who represented Tiger in the deal, could not be reached by Crain’s for comment.
Other recent leases in the building include hedge fund Och Ziff, which renewed its nearly 100,000-square-foot lease for close to $175 per square foot, as The Real Deal reported. [Crain’s] —Julie Strickland