The Real Deal New York

SJP signs hedge fund to lease at 11 Times Sq.

Kepos Capital is relocating from 620 Eighth Avenue
March 16, 2018 01:30PM

Steven Pozycki and 11 Times Square

Hedge fund Kepos Capital inked a deal to take to 20,000 square feet at SJP Properties11 Times Square.

The alternative investment firm took the part of the 35th floor at the Times Square property in a 10-year deal, the Commercial Observer reported.

Kepos plans to relocate to the 40-story, 1.1 million-square-foot tower between West 41st and 42nd streets in August from its current home at 620 Eighth Avenue – the New York Times Building – where it occupies about 17,000 square feet.

The asking rent in the deal was not immediately clear.

JLL’s Paul Glickman and Diana Biasotti represented SJP, which owns the tower with PGIM and Norges Bank. Ben Friedland and Michael Movshovich negotiated on behalf of Kepos, which was founded in 2010 by a trio of former Goldman Sachs partners. The company manages $3 billion in assets.

SJP’s tower is anchored by the law firm Proskauer and Microsoft. Madrid-based entertainment company Parques Reunidos is developing a 45,000-square-foot entertainment complex with film studio Lionsgate in the tower’s retail space. [CO]Rich Bockmann