A real estate investment firm with a healthcare and life sciences focus has signed a lease at 560 Lexington Avenue in Midtown East, Commercial Observer has learned.<\/p>\n
Ally Bridge Group<\/a>, which finances and supports life sciences, medical technology and biopharmaceutical companies, has signed a deal for 6,440 square feet on part of the 18th floor of the Rudin<\/a>-owned office building, according to the landlord. The length of the lease is for 10 years and 10 months.<\/p>\n SEE ALSO: Ed Hogan Has Quietly Shaped Much of How New Yorkers Shop<\/a><\/p>\n The deal represents\u00a0 a relocation from 430 Park Avenue, which is the firm\u2019s current primary office, according to its website.<\/p>\n Rudin declined to provide the asking rent for the 22-story Plaza District building, but the average asking rent for office space in Midtown was $85.11 per square foot in March, according to a report from CBRE<\/a>.<\/p>\n \u201cAlly Bridge Group\u2019s long-term commitment to 560 Lexington is a testament to the Plaza District and this building\u2019s enduring allure for the global investment community,\u201d Kevin Daly, vice president of office leasing at Rudin, said in a statement.<\/p>\n CBRE\u2019s Sinclair Li, Conor Kenny and Connor DeSimone negotiated on behalf of the tenant, while Daly worked with a CBRE team of Peter Turchin, Brett Shannon, Eric Deutsch, Jacob Rosenthal and Lauren Levy.<\/p>\n CBRE did not immediately respond to a request for comment.<\/p>\n Other tenants at the 380,000-square-foot building between East 50th and East 51st streets include financial services platform Marex, which signed a lease for 39,552 square feet in April<\/a>, and hedge fund SummitTX Capital, which took 18,000 square feet in March<\/a>.\u00a0\u00a0<\/p>\n