California-based InvestCloud, Inc., a provider of cloud- based solutions for the financial services field, is expanding into Manhattan.
The company, which was founded in 2010 and is headquartered in Beverly Hills, has leased 10,500 s/f comprising most of the 17th floor at Charles S. Cohen’s Tower 57, at the northwest corner of Lexington Avenue.
InvestCloud expects to move into its first New York office during the third quarter this year.
Marc Horowitz, Senior Vice President and National Director of Office Leasing at Cohen Brothers Realty Corporation, represented both the tenant and landlord in the six-year leasing transaction. Asking rent at Tower 57, which is best known for its curved façade and breathtaking entranceway, is in the mid-$80 range.
This was not the first leasing experience for InvestCloud at a Cohen Brothers property. Horowitz had earlier brokered an office lease for the company at Mr. Cohen’s Green Building at the Pacific Design Center in West Hollywood, CA.
Providing cloud-based front and middle-office solutions focused on digitizing customer experiences and internal operations, InvestCloud services the securities industry, financial services firms and global investment advisors.
According to Horowitz, some full floors, ranging from 7,000 to 13,500 s/f, as well as a duplex unit, are still available in the building.
Opened in 1986, 135 East 57th Street, which was designed by the architectural firm of Kohn Pederson Fox, was acquired by Charles S. Cohen in 1997. He refurbished and transformed the property’s adjoining vest pocket park into one of the city’s most beautiful public spaces in 2001.