Picus Capital takes 6K SF in new Hudson Square office building – Trade Observer


Like its namesake bird, the technology investment firm Capital Picus takes flight from its current US headquarters in the Empire State Building and migrate to a penthouse in Hudson Square, Commercial Observer has learned.

The Germany-based firm signed a 10-year, 6,520-square-foot lease for the entire 12th floor of the new building 60 Charlton Streetthe first transaction for the office building, according to the owner JLL.

JLL declined to provide asking rents, but said average asking rents for similar space in the neighborhood were $93.85 in the second quarter of 2022.

“As the return to work momentum builds, 60 Charlton will appeal to tenants looking for a prime location and state-of-the-art amenities that provide a critical advantage in today’s race for talent,” said JLL. Mitchell Konskerwho negotiated the deal for the owners with Benjamin Bass, Kristen Morgan, Caroline Palmer and Harrison Potter, said in a statement. “With its proximity to transportation and residential neighborhoods…we anticipate continued interest from progressive tenants keen to establish their presence.”

Cushman and Wakefieldit is Richard Bernstein and troy elias represented the tenant and did not immediately respond to a request for comment.

A joint venture between AEW Capital Management, APF properties and Drake Street Partners bought the old warehouse at 60 Charlton for $65 million in 2017 and redeveloped it into an office building.

The owners retained the facade of the original structure and built six additional floors with a floor-to-ceiling glass exterior.

Marc Hallum can be contacted at [email protected].

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