The Real Deal with CompStak Data: H.J. Kalikow signs financial firm to full floor at 101 Park Avenue

Grand Central submarket is hot as always!

H.J. Kalikow signs financial firm to full floor at 101 Park Avenue

November 08, 2013 03:25PM By Hiten Samtani
101 Park Avenue and Peter Kalikow

101 Park Avenue and Peter Kalikow

H.J. Kalikow & Company has signed Manhattan-based Federated Global Investment Management to the entire 41st floor of 101 Park Avenue, The Real Deal has learned.

The investment manager will pay over $110 per square foot in the 26,400-square-foot deal at the 1.3 million-square-foot building, data from CompStak show.

The 49-story tower sits between 40th and 41st streets in the Grand Central submarket.

A spokesperson for Federated confirmed that the deal had been signed and said the firm would be moving next year, when its 22,000-square foot lease on the 37th floor of 450 Lexington Avenue expires. She declined to comment on the terms of the deal.

While Federated is paying rents in the mid $60s per square foot for its current space, earlier this year, real estate investment company Spear Street Capital leased the 39th floor of the Lexington Avenue building for about $120 per square foot, CompStak data show.

H.J. Kalikow was represented by a Cushman & Wakefield team of John Cefaly, Clark Finney and David McBride. Federated was represented by Avison Young’s Greg Kraut and Brad Totten, but they were not immediately available. A spokesperson for Avison declined to comment.

The Park Avenue building houses many top-tier financial tenants, such as the Royal Bank of Scotland, Morgan Stanley Smith Barney and hedge fund Tiger Management, whose recent $70 million lease renewal there was one of the third quarter’s most valuable lease transactions, as The Real Deal reported.