RFR Realty Leases Over 53,000 SF at 17 State St.
Three new deals include Alphadyne Asset Management signing onto approximately 44,000 square feet in the Lower Manhattan office tower that’s across from Battery Park.
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.