Skyline Developers announced that its 20 West 55th Street tenant, Kynikos Associates, has signed a 10-year extension and expansion of its existing lease.
As part of the new agreement, the investment company famed for its early awareness of Enron’s problems, will expand its space, occupying the entire 7th, 8th and 9th floors of the building for a total of 20,000 s/f of office space.
Founded in the 1980s by James S. Chanos, an American hedge fund manager, Kynikos Associates, which focuses on short selling, is a legacy tenant of 20 West 55th Street. They originally leased one floor and are now the largest tenant in the building.
Billy Cohen, executive vice president, Ryan Kass, senior managing director and Andrew Weisz, associate at Newmark Grubb Knight Frank represented both the landlord and the tenant in the transaction. The asking rent on the space was $59 per square foot.
20 West 55th Street, which is 97% leased, currently has one pre-built space on the second floor available, offering 3,700 square feet of office space.