Investment manager Catalyst IOS, which specialises in the industrial outdoor storage sector, is doubling the space of its headquarters at the New York office building 800 Third Avenue. The company is leasing the entire 35th floor of the building from SL Green Realty, corresponding to an area of 12,000 square feet. The manager previously occupied around 6,000 square feet on the 27th floor of the same Midtown East tower.
The new lease has a term of five years. The parties did not disclose details regarding the asking rent. According to research by property services firm Colliers, the average prime rent for Class A office space in the Grand Central submarket stood at $82.64 per square foot in the third quarter of 2026. Catalyst plans to move into the new premises by the end of the year.
Space expansion accompanies portfolio growth
The move is intended to support Catalyst's 37-strong team in its further expansion. According to company information, the firm currently manages more than $1.4 billion in assets spread across over 220 properties in the United States. Max Heiden, co-founder and partner at Catalyst alongside Dan Haroun, emphasised that the additional space helps the team handle the ongoing growth of its locations and further expand its leading role in the market for industrial outdoor storage space.
In recent months, Catalyst has recorded substantial transaction activity. In the first half of 2026, the company reported completed property acquisitions totalling $181 million. As early as February, the firm launched a $400 million equity fund focusing, among other areas, on infrastructure for autonomous vehicles and electric mobility. This was followed in June by the securing of a $281 million portfolio loan.
Established office tower in Midtown Manhattan
In the letting, Harry Blair, Kyle Cohen and Kelli Berke of Cushman & Wakefield represented the landlord, SL Green Realty. Catalyst conducted negotiations directly. The office building on Third Avenue between 49th and 50th Streets comprises a total of 526,124 square feet of space. Alongside Catalyst, the property is home to other prominent tenants such as tax and financial consultancy Reid Tax & Advisory Services, wealth manager Kimelman & Baird, and Silicon Valley law firm Ropers Majeski.
