The Real Deal New York

Financial research firm takes full floor at 1411 Broadway

London-based Third Bridge leases 25K sf at Ivanhoe Cambridge's 40-story office tower
April 04, 2016 12:45PM

Ivanhoe 1411 Broadway

From left: Daniel Fournier and 1411 Broadway in Midtown

Financial research firm Third Bridge is taking an entire floor, or 25,261 square feet, at Ivanhoe Cambridge’s 1411 Broadway near Times Square.

The London-based company is nearly doubling its 12,841-square-foot space at 260 Madison Avenue to take the full-floor space at the 40-story office tower, located between West 39th and West 40th streets.

It’s the latest move for Third Bridge, which has expanded rapidly from fewer than 10 employees in 2012 to more than 100 currently and plans to as many as 100 additional staffers, according to the Wall Street Journal.

The firm plans to incorporate areas into its workspace facilitating collaboration among its largely millennial staff, as well as amenities like a pool table. Evan Margolin and Lance Leighton of Savills Studley represented the tenant in the long-term lease.

A CBRE team led by Paul Amrich handles leasing at 1411 Broadway for Ivanhoe Cambridge, which acquired a managing interest in the 1.2 million-square-foot building from the Blackstone Group for more than $360 million in 2012. The Canadian pension fund investor co-owns the property in partnership with the Swig Company, while Callahan Capital Properties operates the building on behalf of Ivanhoe.

Film post-production company PostWorks recently agreed to sublease two floors, or just under 50,000 square feet, at 1411 Broadway from clothing retailer Nine West, which has looked to sublease much of its footprint in the building over the past year. [WSJ, 2nd]Rey Mashayekhi