EQ Office today announced it has signed ExodusPoint Capital to a lease expansion to grow the company’s headquarters to 35,710 square feet at Park Avenue Tower.
Reported to be the largest hedge fund start-up ever with $8 billion in capital at the time of its launch this summer, ExodusPoint Capital has occupied the entire ninth floor of EQ Office’s 36-story luxury Midtown office tower since March of this year. The 17,832-square-foot expansion includes the entire 10th floor.
EQ Office recently completed a major repositioning of Park Avenue Tower, which transformed the building into a fully modernized office destination. Since concluding the renovation program, EQ Office has secured 249,000 square feet of new leases, welcoming a range of blue-chip financial firms, prominent asset managers and other dynamic businesses.
“ExodusPoint Capital is a valued tenant at Park Avenue Tower, and we are pleased to accommodate the firm’s impressive growth,” said Scott Silverstein, Leasing Manager at EQ Office. “Park Avenue Tower has become the preferred destination for the city’s most cutting-edge and sophisticated companies. They are drawn to its inspiring workspaces, contemporary design, extensive services, and prestigious address surrounded by many of the world’s finest financial institutions and cultural destinations.”
The centerpiece of the reimagined Park Avenue Tower is The Club, a 20,000-square-foot tenant amenity space below the lobby of the building. For The Club, EQ Office partnered with such leading-edge providers as FitLore and Convene to craft the city’s most comprehensive and integrated lifestyle and wellness amenity program. The space features a fitness facility, business lounge and conference center, all enhanced by community programming that makes it an extension of the workplace.
In addition, EQ Office reimagined Park Avenue Tower’s outdoor plaza, transformed the lobby with a contemporary design, and upgraded the building’s mechanical systems as part of the modernization program.
EQ Office was represented in-house by Mr. Silverstein and Simon Wasserberger, as well as by a Newmark Knight Frank team of Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman. ExodusPoint Capital was represented by Neil Goldmacher, Brian Goldman, and Matthew Lorberbaum of Newmark Knight Frank
The ExodusPoint Capital expansion follows recent agreements with global financial services firm BTIG, which signed a 65,365-square-foot lease that encompasses three full floors of the tower and includes the use of a ground floor private entrance and elevator bank, and technology innovator CLEAR, which signed a 24,640-square-foot lease that encompasses one full floor and a portion of another floor.
Park Avenue Tower is located between 55th and 56th Streets at the epicenter of the Plaza District. Built in 1986, the 620,000-square-foot building boasts breathtaking views of the New York City skyline and Central Park and features high ceilings, large windows, and efficient floor plates. It is surrounded by world-class retail, superior hotels, and luxury residential buildings. Other notable tenants include the Raine Group, Monday Properties, ICM Partners, Oak Hill Capital Management, TowerBrook Capital Partners L.P., Stephens Inc., Avista Holdings, LLC, Cyrus Capital Partners, East Rock Capital Management, and National Bank of Canada.
About EQ
We are EQ Office. While other real estate owners talk about square footage and floor plans, we focus on the experience; how space feels, activates and performs. At EQ, we partner with business leaders to find, design and manage balanced workspaces with the intention of helping to inspire talent. We’re proud to work hand-in-hand with customers of all sizes from Fortune 100 companies to emerging startups to bring humanity back to the work place. Our diverse team of over 200 professionals is responsible for creating inspired office environments in cities across the country including Chicago, New York, Los Angeles, San Francisco, Seattle and Boston. What began as Equity Office Properties 42 years ago, now reflects a new intelligence needed to address shifting workplace needs, as EQ Office. As a U.S. office portfolio company wholly owned by Blackstone's real estate funds, we have the resources to lead the changes happening in work space. Explore your space for greatness at www.eqoffice.com.
