search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudSteve Ross’ Related wins bid to build $300M West Palm convention center hotelSteve Ross’ Related wins bid to build $300M West Palm convention center hotelTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanOnmibuild sues HFZ, lenders on High Line projectOnmibuild sues HFZ, lenders on High Line project
Commercial
New York

Financial services firm inks 30K sf deal at RXR’s 450 Lex

StepStone Group relocating from the Lipstick Building

Scott Rechler and 450 Lexington Avenue (Credit: RXR)
Scott Rechler and 450 Lexington Avenue (Credit: RXR)

Financial services firm StepStone Group signed a lease for 30,000 square feet at RXR Realty’s 450 Lexington Avenue.

StepStone signed a 10-year lease for the full 37th floor in the 39-story tower, the Commercial Observer reported. Asking rents at the top of the 910,000-square-foot tower range between $115 and $130 a square foot.

The financial services company is relocating from the Lipstick Building at 885 Third Avenue on Aug. 1.

Sign Up for the undefined Newsletter

RXR controls the property via a ground lease it signed in 2012 for $720 million with the Dubai-based investment firm Istithmar World.

Other tenants include the law firm Davis Polk & Wardwell.

RXR’s Lauren Ferrentino negotiated the deal in-house alongside a CBRE team of Michael Affronti, Silvio Petrillo and Ryan Alexander. Savills Studely’s David Carlos represented StepStone. [CO] – Rich Bockmann

Tags
Commercial Real EstateOffice LeasingRXR Realty