HJ Kalikow signs financial firm to full floor at 101 Park

TRD New York /
Nov.November 08, 2013 03:25 PM

H.J. Kalikow & Company has signed Manhattan-based Federated Global Investment Management to the entire 41st floor of 101 Park Avenue, The Real Deal has learned.

The investment manager will pay over $110 per square foot in the 26,400-square-foot deal at the 1.3 million-square-foot building, data from Compstak show.

The 49-story tower sits between 40th and 41st streets in the Grand Central submarket.

A spokesperson for Federated confirmed that the deal had been signed and said the firm would be moving next year, when its 22,000-square foot lease on the 37th floor of 450 Lexington Avenue expires. She declined to comment on the terms of the deal.

While Federated is paying rents in the mid $60s per square foot for its current space, earlier this year, real estate investment company Spear Street Capital leased the 39th floor of the Lexington Avenue building for about $120 per square foot, CompStak data show.

H.J. Kalikow was represented by a Cushman & Wakefield team of John Cefaly, Clark Finney and David McBride. Federated was represented by Avison Young’s Greg Kraut and Brad Totten, but they were not immediately available. A spokesperson for Avison declined to comment.

The Park Avenue building houses many top-tier financial tenants, such as the Royal Bank of Scotland, Morgan Stanley Smith Barney and hedge fund Tiger Management, whose recent $70 million lease renewal there was one of the third quarter’s most valuable lease transactions, as The Real Deal reported.


Related Articles

arrow_forward_ios
Shawn Mobley (left), is being replaced by Andrew McDonald (right) as CEO of the Americas at Cushman

Shakeup at Cushman: Mobley out, McDonald promoted

Shakeup at Cushman: Mobley out, McDonald promoted
Rich Barton, Howard Lorber, Jay Hennick, Brett White

Real estate firms are raising billions in debt and equity. Here’s why

Real estate firms are raising billions in debt and equity. Here’s why
Clockwise from top left: Vornado's Steven Roth, Newmark Knight Frank's Barry Gosin, Redfin's Glenn Kelman, SL Green's Marc Holliday, Marriott's Arne Sorenson, Zillow's Richard Barton, Realogy's Ryan Schneider, and Cushman's Brett White

A real estate earnings call season for the ages

A real estate earnings call season for the ages
Cushman & Wakefield's Brett White (Credit: iStock)

Cushman’s income drops 70% in Q1

Cushman’s income drops 70% in Q1
He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?
Pandemic pay cuts: Analysis shows real estate CEOs aren’t giving up much

Pandemic pay cuts: Analysis shows real estate CEOs aren’t giving up much

Pandemic pay cuts: Analysis shows real estate CEOs aren’t giving up much
Avison Young CEO Mark Rose

Avison Young trims tri-state workforce

Avison Young trims tri-state workforce
Cushman & Wakefield CEO Brett White

Cushman’s Brett White taking 25% salary cut

Cushman’s Brett White taking 25% salary cut
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...