Arca Financial Group, a wealth management firm, has moved into new office space north of Madison Square Park in Manhattan. The company signed a five-year lease for a 7,500-square-foot, pre-built space on the 10th floor of The Moinian Group's 60 Madison Avenue building. The lease was finalised this month.
The Moinian Group did not immediately disclose the exact rent. According to a CBRE report, the average asking rent for office space in Midtown South was $85.73 per square foot in Q2 2026.
Attractive Office Space in a Desirable Location
Omar Sozkesen, Vice President of Commercial Leasing at Moinian, stated that 60 Madison Avenue continues to attract companies seeking prime office space in one of Manhattan's most coveted business districts. The pre-built office spaces overlooking Madison Square Park appeal to tenants who desire thoughtfully designed, move-in-ready workplaces that support both employee experience and long-term growth.
A CBRE brokerage team represented Moinian in the transaction, while Arash Sadighi and Tyler Ruggieri of Venture Commercial negotiated on behalf of the tenant. It is not known whether Arca Financial Group is relocating within the city or if this will be its first headquarters in New York City.
Other Prominent Tenants in the Building
The 60 Madison Avenue building has seen other significant lettings recently, underscoring its appeal. These include, among others:
- —A 25,000-square-foot space for web developer Tenex Labs.
- —A 17,500-square-foot lease for Pace, a company developing AI-based agents.
- —Another 17,500-square-foot letting to GovWell Technologies, an AI firm that develops operating systems for governments.
