Fintech giant Finastra expanding into 285 Madison penthouse

Finestra.PNG

RFR Realty LLC  announced that global financial technology provider Finastra – created when Misys and D+H joined forces in June this year – has expanded into the 11,275 s/f  full-floor penthouse at 285 Madison Avenue.

Finastra already occupies 23,500 s/f on the fourth floor of the newly repositioned office tower near Grand Central Terminal and Bryant Park.

Finastra is the third largest Fintech (financial technology) firm in the world. It has over 9,000 customers across 130 countries, including 48 of the top 50 banks globally.  The expanded office space will bring all New York-based employees under one roof.

The landlord was represented by Alexander Chudnoff, Mitchell Konsker, Dan Turkewitz and Diana Biasotti of JLL, as well as RFR’s Senior Vice President and Director of Leasing AJ Camhi. Jon Sarkisian, Neil King and Emily Jones of CBRE represented the tenant in the lease transaction.

“We are delighted that this exciting global financial technology firm, Finastra, has chosen to expand its presence within 285 Madison,” said Camhi. “The leasing velocity we’ve seen here since we completely reimagined this well-located office tower speaks volumes about tenants’ desire to match a sought-after location with an array of exceptional on-site amenities.”

The Finastra expansion comes on the heels of Tommy Hilfiger (PVH Corp.) signing a 200,000 s/f lease to relocate its U.S. corporate headquarters to 285 Madison Avenue, joining  global firms including Brighthouse Financial, Pepsico, Bessemer Venture Partners, StriVectin Operating Company and General Electric Company.

In addition to the flurry of new office leasing at the building, recent retail deals at 285 Madison Avenue will bolster the building’s transformation, adding additional amenities for tenants and the surrounding neighborhood.

The Benjamin Group—the restaurant operator behind the Benjamin Steakhouse and Sea Fire Grill concepts—signed a 16-year lease for 9,020 s/f for a Benjamin Steakhouse. Popular Community Bank, part of the international financial services group Banco Popular, signed a lease for the 3,553 s/f corner space. London-based coffee purveyor Taylor Street Baristas occupies 1,040 s/f of space adjacent to the restaurant, as well as a portion of the mezzanine.

The building was acquired by RFR vacant in 2012 and has been transformed through a $65 million  renovation and design upgrade. This includes a landscaped roof terrace with lounge seating and an adjacent indoor multipurpose collaboration space with tables and selected art. The building lobby also has a rotating contemporary art program, currently featuring works by Peter Dayton, Enoc Perez, and Mike Bidlo.

Other tenant amenities include a private lounge, event space, fitness center complete with showers and men’s and ladies’ locker rooms, and a bike storage area.

BY REW 

SEPTEMBER 19, 2017

http://rew-online.com/2017/09/19/fintech-giant-finastra-expanding-into-285-madison-penthouse/

Vornado, SL Green land private equity tenant at 280 Park

Antares Capital signs 12-year lease for 55K sf

280 Park Avenue in Midtown

280 Park Avenue in Midtown

Private equity firm Antares Capital signed a 55,000-square-foot lease at Vornado Realty Trust and SL Green Realty’s 280 Park Avenue.

The lease is for 12 years and asking rents in the building are in the $90s. Antares is moving from Fisher Brothers’  299 Park Avenue.

The firm was a subsidiary of now-defunct GE Capital until last year, when it was sold to Canada Pension Plan Investment Board as part of a $12 billion deal. CBRE’s Paul Amrich and Neil King represented Antares, while Vornado’s Andrew Ackerman and CBRE’s Peter Turchin and Sam Seiler represented the landlord.

SL Green and Vornado spent $150 million renovating the 1.2 million-square-foot property, which they bought for close to $500 million in 2011.

The building will be the new home of the Four Seasons Restaurant, which was kicked out of RFR Realty’s Seagram Building.

Last year, Singapore’s sovereign wealth fund GIC signed a 50,000-square-foot lease at the tower.  [Crain’s] — Konrad Putzier

Winton Capital leaves Seagram Building for 315 PAS

Hedge fund to take 35K sf at Columbia Property Trust tower

315 Park Ave South in NoMad (inset from top: Winton Capital’s David Harding and Columbia Property Trust’s Nelson Mills)

315 Park Ave South in NoMad (inset from top: Winton Capital’s David Harding and Columbia Property Trust’s Nelson Mills)

U.K.-based hedge fund Winton Capital is relocating from the Seagram Building to 315 Park Avenue South in Midtown South.

The investment firm signed a 10-year lease for 34,844 square feet at Columbia Property Trust’s under-renovation office tower, according to the Wall Street Journal. Columbia CEO Nelson Mills said the move was a “badge of honor” for 315 Park.

Winton will have a private elevator, lobby and elevators in the 328,193-square-foot building. The asking rent for the space was $105 per square foot.

Columbia, a real estate investment trust, paid $375 million to buy the 20-story pre-war building from Spear Street Capital in 2014. L&L Holding Company manages the property and handles leasing services.

Spear Street bought the building in 2013 from Craig Nassi’s BCN Development for $250 million.
Columbia has also reeled in new tenants including Equinox, which is taking 44,000 square feet, and Fullscreen, a YouTube channel aggregator that’s taking 17,000 square feet.  Oracle Corp. plans to expand its footprint there, as well.

https://therealdeal.com/2016/07/11/winton-capital-leaves-seagram-building-for-315-park-avenue-south/

Four Seasons restaurant finds new home at 280 Park

Iconic eatery signed 19K sf lease at building owned by Vornado, SL Green

From left: The Four Seasons restaurant and 280 Park Avenue

From left: The Four Seasons restaurant and 280 Park Avenue

After getting the boot by Aby Rosen, the Four Seasons restaurant found a new home at SL Green Realty and Vornado Realty Trust’s 280 Park Avenue.

According to sources cited by the New York Post, the restaurant’s owners Julian Niccolini and Alex von Bidder signed a lease for a 19,000-square-foot lease at the office building. Brazilian architect Isay Weinfeld will design the new restaurant.

Rosen and Michael Fuchs’ RFR Realty last year announced it would not renew the restaurant’s lease at the Seagram Building, which had been its home since 1959. The restaurant’s lease ends July 31, and Rosen has been reportedly looking to raise $30 million to renovate the space.

Classic Restaurants, which owns the restaurant, trademarked the names of the Pool Room and the Grill Room last year when it realized it would not be staying at 375 Park Avenue. [NYPost] – Konrad Putzier

GE Capital takes space at RFR’s 285 Madison

Recently-repositioned prewar property now 45% leased

    From left: Aby Rosen and 285 Madison Avenue in Midtown

 

From left: Aby Rosen and 285 Madison Avenue in Midtown

Financial services giant GE Capital is set to take up residence on the 15th and 16th floors of Aby Rosen’s 285 Madison Avenue.

The company signed a 16-year lease for 43,000 square feet at the recently-renovated, 26-story Midtown office building.

Asking rent for the space was in the low $70s.

Alexander Chudnoff, Mitchell Konsker and Dan Turkewitz of JLLrepresented Rosen’s RFR Realty in the deal, along with in-house broker AJ Camhi, the New York Post reported. GE Capital was repped by CBRE’s Sinclair Li, Sacha Zarba, Frederick Fackelmayer and Ryan Alexander.

RFR bought the 530,000-square-foot 285 Madison Avenue for $190 million back in 2012. The developer then spent millions repositioning the building, adding amenities such as a roof deck and a fitness center.

The developer sold the Soho Hotel at 11 Howard Street last month to German asset manager Commerz Real for $170 million. [NYP] – Ariel Stulberg