17 State St./ Photo courtesy of RFR Realty
NEW YORK CITY—RFR Realty has expanded Axioma's lease at 17 State St. to total 30,000 square feet. The global risk management and portfolio construction services provider enlargened its footprint by approximately 7,234 square feet, occupying the full 26th and 27th floors. A source close to the deal tells GlobeSt.com that the asking rent was $72 per square foot.
In 2009, Axioma initially leased an 8,700-square-foot space on the 25th floor. But they have continued to expand their footprint.
“Axioma has been a highly valued tenant at 17 State St. for over a decade and this is their fourth expansion within the property,” says AJ Camhi, director of leasing at RFR. “We are pleased to continue our partnership together.”
Axioma provides investment management support to global clients including asset managers, hedge funds, insurance companies, pension funds, wealth managers and investment banks.
Camhi represented RFR in-house with Ryan Silverman, along with JLL's Mitchell Konsker, John Wheeler and Clayton Kline. Clyde Reetz from CBRE represented Axioma.
RFR secured two additional tenants on the third floor. FGC Capital leased 2,463 square feet and Friendly Capital renewed its 3,899-square-foot lease. Peter Shakalis of Lee & Associates represented Friendly Capital, who has been a tenant at 17 State St. for more than 16 years. In May, the alternative investment management firm Alphadyne Asset Management extended its lease, expanding to 53,000 square feet. The largest tenant at the property is IPsoft, which occupies 140,000 square feet.
Emery Roth & Sons designed the 42-story office tower that was built in 1970. Located at State and Pearl streets, the building provides views of the New York Harbor, the Statue of Liberty and Battery Park. It benefits from close proximity to multiple public transportation options and dining, retail and entertainment establishments in Lower Manhattan.
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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.
