Knighthead Capital Management, a money manager founded in 2008, has inked a deal to move its office to 1140 Avenue of the Americas. The fund will be tripling in size, taking 12,750 sf. The firm is moving its offices from 623 Fifth Avenue (the building directly above Saks) where it currently has about 4,000 rsf.
Equity Office Properties, the owner of 1140 Avenue of the Americas, recently spent a tremendous amount of money upgrading the building to attract boutique tenants. The asset is adjacent to Bryant Park and has floorplates that are very conducive to small tenants.
According to the broker for the building, Doug Neye, “Tenants have been attracted to the high-end prebuilt suites that the landlord is providing. The boutique building is a rarity among the typical mammoth Sixth Avenue buildings, offering floor plates of just under 13,000 square feet that cater to boutique financial users. The newly transformed building offered Knighthead Capital a unique opportunity for a significant presence within what is essentially a new, modern, Class A, boutique asset.”