520 Madison Ave./ Photo credit: Tishman Speyer
NEW YORK CITY—Axonic Capital is relocating its headquarters, but remaining between E. 53rd and E. 54th streets, moving from the Lever House at 390 Park Ave. The New York City-based investment advisor is heading one avenue west to 520 Madison Ave. in late June.
Axonic signed a 10-year lease with Tishman Speyer to occupy the entire 42nd floor in its new location, totaling 16,167 square feet.
Founded in 2010 by Clayton DeGiacinto, Axonic manages client capital in structured credit, systematic fixed income and commercial real estate strategies with approximately $2.6 billion in assets. It employs more than 40 professionals.
“As a commercial real estate landlord and lender ourselves, we took this opportunity to create our own space that reflects our culture and allows for growth,” says DeGiacinto. He adds the new space provides a productive, bright and comfortable environment with the added benefit of its Midtown location.
Cushman & Wakefield's Jonathan Luttwak represented Axonic in the transaction. Tishman Speyer, which both owns and manages the property, was represented in-house.
“Ultimately, this location allowed Axonic to increase their footprint by 60% while meeting all of their desired operational objective,” says Luttwak. “At 520 Madison, Axonic Capital will have an entire floor, increased natural light, great views, and a quality landlord that supported a lease structure that met the tenant's real estate needs.”
The column-free space at 520 Madison Ave. accommodates tenant build-outs. The buildings amenities include two restaurants, 24-hour staffed security, an outdoor plaza and rotating art in the lobby.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
