Reckoner Capital Management Establishes New Headquarters in New York City
Reckoner Capital Management, a recently established global alternative credit asset manager, is set to take its place in the bustling financial landscape of New York City with a newly signed lease for office space located directly across from Madison Square Park.
New Lease Details
Since its launch in February, Reckoner Capital has secured a long-term lease encompassing 12,124 square feet on the 10th floor of the recently revamped Rockrose Development building at 11 East 26th Street. This information was confirmed by Newmark, the brokerage involved in the transaction.
Positive Reception and Amenities
Ted Traum, director at Rockrose, welcomed Reckoner Capital to the building, stating, “We’re excited to welcome Reckoner Capital to 11 East 26th and to continue our tremendous leasing momentum at the project.” He highlighted the strong market response to the building’s extensive renovation and unique amenities.
While specifics on the lease duration and rental rates remain undisclosed, a report from Colliers indicated that office rents in Midtown South averaged $78.03 per square foot as of February.
Brokerage Team and Other Tenants
The deal was brokered by Newmark’s Neil Goldmacher and Josh Friedman for Reckoner Capital, while the landlord was represented by Newmark’s William “Billy” Cohen and Ariel Harwood.
This lease signifies Reckoner Capital’s first office in New York City, backed by the influential investor RedBird Capital Partners.
Building Renovations and Other Occupants
Reckoner Capital will join other noteworthy tenants at the 11 East 26th Street location, including tech-oriented firm Jump Trading and investment management company Holocene Advisors, which recently expanded its footprint in the building to roughly 31,000 square feet.
The building underwent a significant $100 million renovation, enhancing its appeal with modern features such as a rooftop conference and entertainment space, a landscaped roof deck, and an amenities club on the second floor. As Cohen stated, “11 East 26th Street sets a new standard for Class A office space in Manhattan’s NoMad submarket, combining state-of-the-art amenities with an iconic location overlooking Madison Square Park.”
Conclusion
The establishment of Reckoner Capital in this prime location underlines the growing interest in Midtown South’s commercial real estate market. The space aims to not only accommodate its operational needs but also to offer a conducive working environment that supports business growth and collaboration.
For more information, please contact Isabelle Durso at id****@co****************.com.
