Jump Trading, a privately funded algorithmic trading firm, has leased 19,280 s/f at Savanna’s 15 East 26th Street.
The company will occupy a full floor of the building that sits on the edge of Madison Square Park in the tight Midtown South office market.
“We are very excited to welcome Jump Trading to our building, and we believe this is an ideal location for their first New York City office,” said Andrew Kurd, an associate of Savanna which bought the eight story commercial condo earlier this year and is positioning it as one of the premier office buildings in the neighborhood with a $9 million capital improvement package.
“Our modernized lobby, which will be completed this summer, along with other select building improvements,” added Kurd.
Built in 1920, the ground floor retail l is leased to the high-end restaurant SD26 and floors two through eight are office spaces, with Vera Wang’s design and showroom occupying the 4th and 5th floors. The 150,000 s/f office condo sits below 12 stories of condo apartments
Mitchell Konsker, Matthew Astrachan, Matthew Polhemus and Brittany Wunsch of Jones Lang LaSalle represented Savanna in the Jump Trading deal while Gilbert L. Ohls, Matt Felice and Matt Carolan of Jones Lang LaSalle represented the tenant.
“Directly overlooking Madison Square Park, 15 East 26th Street is one of the premier properties in the hottest market in Manhattan. The neighborhood is attracting technology, finance, entertainment, and media companies coming from Midtown Manhattan seeking cool and creative space surrounded by all the great amenities the area has to offer,” said Konsker, vice chairman of Jones Lang LaSalle.
Since acquiring 15 East 26th Street in February 2012, Savanna has been working with DPM Architecture to complete a redesigned entrance and lobby, upgrade freight and passenger elevators, replace the sidewalk and windows and complete a façade upgrade.