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Hedge Fund Hoplite Capital Renews at SL Green’s 810 Seventh Avenue

Hedge Fund Hoplite Capital Renews at SL Green’s 810 Seventh Avenue

Hedge fund Hoplite Capital Management has renewed its 17,320 square feet of office space at SL Green Realty Corp.’s 810 Seventh Avenue in Midtown, Commercial Observer has learned.

Hoplite signed a five-plus-year deal this week to extend its lease on the entire 34th floor of the 41-story, 765,000-square-foot office tower between West 52nd and West 53rd Streets. The employe-owned hedge fund sponsor, which was founded in 2003 by former Goldman Sachs analyst John Lykouretzos, has called 810 Seventh Avenue home since 2007.

Asking rent at the property is $65 to $75 per square foot, according to a source with knowledge of the transaction. SL Green’s Larry Swiger represented the landlord in-house, while Hoplite was represented by a CBRE team of Chris Corrinet, Ben Friedland, Michael Movshovich and Adam Rabin.

Representatives for SL Green did not provide comment on the deal. A spokeswoman for CBRE did not immediately return a request for comment.

The tenant roster at 810 Seventh Avenue leans heavily toward financial services companies, including the likes of wealth management firm TAG Associates and boutique investment brokerage Aegis Capital Corp. Non-financial services tenants at the property include consulting firm Berkeley Research Group and television broadcaster Ion Media Networks.

SL Green has kept busy on the office leasing front as it looks to reach its targeted 1.6-million-square-foot Manhattan office leasing guidance for 2017. The city’s largest commercial landlord recently secured online consumer reviews giant Yelp to a nearly 40,000-square-foot expansion at 11 Madison Avenue, as Commercial Observer first reported this week, and last month signed marketing research firm Schlesinger Associates to a roughly 17,600-square-foot deal at 711 Third Avenue.

Yesterday, the real estate investment trust announced that it is selling its office building at 16 Court Street in Downtown Brooklyn to 432 Park Avenue developer CIM Group in a deal valued at $171 million.


Source: commercial

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