CLIENT:Autonomy Capital
SERVICES:Disposition/ Acquisition

90 Park Avenue (Disposition)

100 Park Avenue (Acquisition)

RSF:19,256 RSF


Autonomy Capital, an immersive investment manager with over $5.5B AUM was looking to downsize from their 12,000 square foot, full-floor presence at 90 Park Avenue to a space that would provide support for their US operations.

At the height of uncertainty during the pandemic, Autonomy Capital was represented by a major brokerage who encouraged Autonomy to accept a below market offer to sublease

Autonomy was referred to Spaces Commercial to assess the space and terms of the proposal.


  • Autonomy Capital was originally represented by Savills and was referred to Spaces Commercial to confirm market conditions and assess the terms of a proposal they had received.
  • Spaces Commercial evaluated the market and provided a comparative market analysis for Autonomy Capital that showed all directly competing spaces to this sublease on a direct and sublease basis.
  • Identified that Autonomy Capital’s space was the most efficient top shelf space on the market for this size tenant.
  • Analyzed the risk for Autonomy to continue marketing their space and the potential to negotiate better terms.
  • Developed and executed a marketing campaign, highlighting the build out and quality of the building
  • Analyzed default risks for all sublease opportunities to mitigate risk.


Executed a 12,400 square foot, four year fully furnished lease assignment at 90 Park Avenue in the 4th quarter during the century’s worst real estate market.
    • Negotiated a complex lease assignment mitigating any default risk by the Assignor
    • Leased the space in one month, negotiating a 95% recovery rate for Autonomy Capital’s base rent.
    • Offered one (1) month of free rent on a four-year sublease term- far below the market of 1 month per lease year
    • Negotiated an as-is transaction with $0.00 improvement allowance
Executed a 6,000 RSF lease for Autonomy
  • Defined search parameters that represented Autonomy’s workflow and modalities for the operations team
  • Executed a space program to determine the correct RSF for Autonomy’s new space.
  • Negotiated a complete NBI valued at $120.00/RSF
  • Secured 8 months free rent for Autonomy Capital’s acquisition on a 5-year term.
  • Aligned both the signing of the sublease and sublease commencement to dovetail with the signing and commencement of the 90 Park Avenue space.