Jones Lang LaSalle has completed a sublease transaction with Manikay Partners LLC at One Bryant Park, also known as Bank of America Tower.
Asking rents were “north of $100 per square foot” according to Dan Turkewitz, JLL senior vice president, represented the Manikay Partners, the subtenant.
The hedge fund manager signed a six-year sublease for 8,828 s/f of office space with Marathon Asset Management LP at the Class A, 2.1 million-square-foot building.
JLL represented both sides in the sublease transaction. Alexander Chudnoff, executive managing director, represented the sublandlord, Marathon Asset Management.
“This transaction was ideal for Manikay Partners, as the space on the 39th floor had been built-out and furnished to a very high standard by Marathon Asset Management,” said Turkewitz.
“The previous tenant made substantial investments in supplemental air conditioning and wiring, which resulted in considerable capital expenditure savings to Manikay Partners.
“In addition to the turnkey installation, Manikay Partners was drawn to One Bryant Park due to its spectacular views, efficiencies associated with new construction, and the building’s extended HVAC hours. Open lines of communications among all parties involved in the transaction allowed for the completion of this sublease in just two weeks.”
Manikay Partners will occupy a portion of the 39th floor at One Bryant Park. The hedge fund manager is relocating to the building from its previous offices at 375 Park Avenue, also known as the Seagrams Building.