Financial Firm Marex Shrinks to 40K SF at Rudin’s 560 Lexington Avenue – Commercial Observer

Financial services platform Marex is shedding half of its office space in Midtown East.

The tenant, which specializes in providing services to the energy, commodities and financial sectors, has signed a new lease for 39,552 square feet at Rudin’s 560 Lexington Avenue in a relocation from its current 80,000-square-foot offices at 2 Grand Central Tower, which it will put up for sublease.

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The asking rent at 560 Lexington, on the corner of Lexington Avenue and East 50th Street, was $84 per square foot, according to the New York Post, which first reported the transaction.

CBRE’s Peter Turchin, Brett Shannon, Eric Deutsch and Jacob Rosenthal negotiated on behalf of Rudin while JLL’s Matthew Astrachan, Seth Godnick and Kristina Kopans handled the deal for Marex.

CBRE, JLL and Rudin did not immediately respond to  requests for comment.

Other recent deals in Rudin’s 22-story, 380,000-square-foot office tower include a 17,778-square-foot lease for hedge fund SummitTX Capital in early March and a 20,000-square-foot deal for coworking firm Industrious around the same time.

Marex has 40 offices across the globe and owns companies such as exchange-traded European grain company Arfinco, crude oil and renewable energy firm CSC Commodities and recycled metal specialists Tangent Trading. 

Mark Hallum can be reached at mhallum@commercialobserver.com.