Waterfall Asset Management takes floor at 1251 Sixth Ave.

Waterfall Asset Management is expanding and moving to 1251 Sixth Ave., where it will have the entire 50th floor of 44,100 square feet.

Chris Kraus and Daoud Awad of JLL represented the tenant in the 11-year deal. NKF’s David Falk, Peter Shimkin, Eric Cagner and Nick Berger represented building owner Mitsui Fudosan America.

The asking rent for the remaining available 37th and 38th floors is in the low-$90s per square foot.

Waterfall is on two floors at 1140 Avenue of the Americas, totaling 25,500 square feet, and wanted a single-floor office to move into in 2019.

Founded in 2005 by Tom Capasse and Jack Ross, Waterfall focuses on high-yield, asset-backed securities along with real estate investments. As of July, it had $7.8 billion under management.