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Quadrature Establishes Presence in U.S. with Puck Building Lease

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

U.K.-based hedge fund Quadrature signed a decade-long lease for 30,000 square feet of prime Manhattan office space on the fourth floor of Kushner Companies’ Puck Building. Justin Haber of JLL brokered the deal on behalf of the tenant, while a CBRE team comprised of Sacha Zarba, Jeffrey Fischer and Conor Krup represented the landlord. The asking rent was $135 per square foot.

Quadrature will be moving into space vacated by New York University, which decided to terminate its lease at 295 Lafayette St. after a 20-year stay. The university’s lease is set to expire in mid-2024, at which point NYU Wagner will move its operations to 105 E. 17th St., where it will be occupying three of the building’s lower floors.

Located at the corner of Houston and Lafayette streets in SoHo, the Puck Building was designed by Albert Wagner and initially served as the home of the J. Ottmann Lithographic Company when it was completed in the late 19th century. Today, the nine-story property has a tenant roster that includes the likes of fintech companies Cadre and Plaid, as well as the Kushner Companies’ investment division, Thrive Capital.

In addition to its office space, 295 Lafayette St. also boasts 39,000 square feet of rentable retail space that’s occupied by commercial tenants such as outdoor gear retailer REI and global hospitality company Major Food Group. It also features roughly 27,000 square feet of residential space.

The building also has elegant ballrooms catering to both intimate and large events. On the top floor, the Skylight Ballroom offers a sophisticated ambiance with its soaring ceilings and natural light, accommodating up to 250 guests. Or, for larger events, the ground floor’s Grand Ballroom takes center stage by boasting a capacity of up to 1,000 guests, which makes it ideal for weddings, galas and corporate functions.

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