Fintech firm Quantitative Brokers renovates 7K-SF headquarters at 285 Madison Avenue – Commercial Observer

Fintech company Quantitative brokers will commit for another seven years to RFR Real Estate‘S 285 Madison AvenueCommercial Observer has learned.

Quantitative has renewed its lease for 7,070 square feet on the 17th floor of a 26-story office building between East 40th and East 41st Streets, according to a source familiar with the deal.

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The asking rent was $85 per square foot, the source said. That’s a $3 per square foot increase over the office’s asking rent in 2019, when Quantitative moved into the building.

The company was founded in 2008 and has opened offices in the UK, India and Australia in addition to its headquarters in New York. according to his LinkedIn page.

Quantitative designs algorithms for clients to reduce trading costs on numerous global futures exchanges and describes itself as “a cross between a brokerage, a fintech and an analytics provider.” according to its website.

JLL (JLL)‘S Sam Seiler he arranged the deal for the tenant in the meantime Ryan Silverman AND AJ Camhi represented RFR internally.

Seiler declined to comment. Neither Silverman nor Camhi responded to requests for comment.

Aby Rosenhas invested $65 million in renovating the 530,000-square-foot building since purchasing it in 2012. Since then, RFR has signed deals with new office tenants, including Tommy Hilfigerwhich began leasing nearly half of the building in 2019, as previously reported by CO.

However, despite a healthy 95% occupancy rate, RFR’s $235 million commercial mortgage-backed securities loan is tied to 285 Madison carry out special maintenance in 2022, with the owner requesting an extension of the expiry date. The status of the CMBS loan is unclear.

Abigail Nehring can be reached at anehring@commercialobserver.com.

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