A law firm signed a massive lease at Paramount Group’s 1301 Sixth Avenue, but the move includes a cut to the company’s footprint in Manhattan’s office market.
O’Melveny & Myers is taking 142,000 square feet at the Midtown Manhattan building, Paramount announced. The 15-year lease covers floors 17 through 20, which are occupied by French bank Credit Agricole on a lease set to expire in February.
Productivity software maker Asana is adding another 44,000 square feet to its 3 World Trade Center offices.
According to landlord Silverstein Properties, Asana will grow from 17,000 square feet — which it first leased in 2019 — to 61,000 square feet.
Alternative investment firm Blue Owl Capital leased 137,660 square feet at RFR Holding’s Seagram Building at 375 Park Avenue, RFR announced Wednesday.
Currently located on the 38th floor of 399 Park Avenue, Blue Owl leased additional space just a block north to its new offices. RFR’s director of leasing, AJ Camhi, described the move as a flight to quality from an older office asset to one that draws workers back.
Memorial Sloan Kettering Cancer Center, fresh off purchasing the majority of the Lipstick Building, just shelled out $185 million for the real estate at its Upper East Side research campus.
The hospital bought eight commercial condos spanning roughly 90,000 square feet at 321 East 61st Street from Joy Construction and Maddd Equities, property records filed Tuesday show.
The recently rebranded Dotdash Meredith has weathered plenty of change in the last year, but the company is now looking to shift a large amount of space onto the office market.
The publisher is putting 331,000 square feet up for sublease at 225 Liberty Street, better known as Brookfield Place, the New York Post reported. The space surrender comes after IAC acquired the company for $2.7 billion.
SL Green chief investment officer Harrison Sitomer in a statement, deemed the property the company’s “next major development project,” following in the paths of One Vanderbilt and One Madison.
The firm plans on repositioning the property with alterations to the lobbies, plaza, retail storefronts and infrastructure. It will also be bringing its amenities program to the building; Kohn Pedersen Fox will help in the redesign.
Companies still want a piece of Manhattan. Notably, space in Midtown is steadily getting harder to find.
“If demand continues at the same rate, Midtown is on pace to nearly match 2019 leasing volumes of 15 million square feet,” said Franklin Wallach, director of research at Colliers.
Freshfields Bruckhaus Deringer signed a 15-year lease at Silverstein Properties’ 3 World Trade Center, the firm announced Wednesday. The lease includes 180,000 square feet on floors 51 through 54 of the property.
The global audit and consulting firm announced Tuesday its move to Brookfield Properties’ Two Manhattan West, where it will occupy approximately 450,000 square feet. KPMG expects to transition over once construction is completed in late 2025, where up to 5,500 people will work.
The office lease is the largest this year in New York City, a Brookfield representative told The Real Deal. The 20-year commitment will span floors 13 through 24.
Vista Equity Partners signed a 95,000-square-foot lease at 50 Hudson Yards.
The private equity firm will be moving to Related Companies’ 58-story tower, once it’s completed later this year, according to the New York Post.
