17 State St./Photo credit: RFR Realty
NEW YORK CITY—Alphadyne Asset Management has expanded and extended its lease at RFR Realty's 17 State St. to total 43,872 square feet, spanning three full floors of the 42-story office tower. The new lease is for 10 years and the asking rent was $73 per square foot.
The alternative asset management firm has been in the Lower Manhattan building since 2005. The company has offices in London, Tokyo and Hong Kong. Its investors include pension funds, insurance companies, asset managers, investment consultants and sovereign wealth funds.
RFR's AJ Camhi and Ryan Silverman, along with Jones Lang LaSalle's Mitchell Konsker, John Wheeler and Clayton Kline represented the building ownership. JLL's Jason Schwartzenberg served as Alphadyne's broker.
The same team representing RFR also negotiated two other deals in the building.
Arles Management leased a 4,318-square-foot prebuilt space on a tower floor. Founded in 1996 by Warren A. Mackey, the investment management firm focuses on US banks and thrifts. JLL's Kirill Azovtsev and Dan Santagata represented the tenant, which is relocating from 40 Worth St. in Tribeca.
RC BME Holdco, a privately held real estate owner, inked a 5,042-square-foot, long-term lease also for tower floor offices. CBRE's Gary Kamenetsky and Joseph Joselit represented the tenant, which is moving from 45 Broadway in Lower Manhattan.
Other tenants include the global advisory firm StoneTurn Group which relocated and expanded to a 13,100-square-foot, full-floor space. It has resided in the building since 2004, doubling its footprint from 7,234 square feet. In addition, the advertising agency DDCD & Partners, a tenant at 17 State St. since 2011, decided to remain in the building relocating to a tower floor with a long-term lease.
Designed by Emery Roth & Sons, the building was originally constructed in 1988. It's located on the corner of State and Pearl streets, and has views of the New York harbor, Statue of Liberty and Ellis Island.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
