Vestal Point Capital, a renowned investment firm and hedge fund manager, is relocating its offices within New York City. The company has concluded a long-term lease agreement for an area of 12,139 square feet, encompassing the entire 12th floor of Rockrose Development's property at 11 East 26th Street. This address is located directly opposite Madison Square Park in Manhattan.
Currently, the company's business address is listed on its website as 632 Broadway in NoHo. The exact timing of the firm's relocation is unclear at present. The precise duration of the lease was not disclosed. Sources familiar with the deal report that the asking rent was over $130 per square foot.
Property and Brokerage Details
William Cohen and Ariel Harwood of Newmark are acting as exclusive leasing agents for the property in question. Brian Goldman and Cooper Weisman, also from Newmark, represented the tenant in this transaction. Newmark declined to comment, and a spokesperson for Vestal Point Capital did not immediately respond to a request.
The building at 11 East 26th Street is a 21-storey office block, part of a two-building complex connected to 15 East 26th Street. The second floor houses a comprehensive amenity club with a fitness area, a private lounge, a designated area for whisky lockers, and a 'grab-and-go' kitchen. Additionally, the building offers a landscaped rooftop terrace with patios, seating areas, and indoor and outdoor spaces for conferences and entertainment.
Other Tenants at the Location
Other tenants at 11 East 26th Street include prominent companies such as artificial intelligence firm Sierra and management consultancy Activate Consulting. The new lease to Vestal Point Capital underscores the attractiveness of the location and the quality of the office spaces provided by Rockrose Development.
