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.
Brookfield Properties better have a big enough safety deposit box for the multi-billion dollar asset manager moving into 660 Fifth Avenue.
Brookfield signed 400 Capital Management to a lease at the Plaza District building, formerly known as 666 Fifth Avenue, Bloomberg reported. The 25,000-square-foot lease is for the 27th floor of the 39-story property.
The real estate arm of the Milstein family, Ogden CAP Properties, will stick with its 42,000-square-foot offices at 545 Madison Avenue, Commercial Observer has learned.
Ogden inked a three-year deal for the third through sixth floors of the 18-story Marx Realty building, extending its lease until 2027, according to Craig Deitelzweig, president and CEO of Marx. Asking rents at the property between East 54th and East 55th streets range from $84 to $101 per square foot.
MEAG, the asset management arm of Munich Re, is bringing three of its New York City offices into a single building, Commercial Observer has learned.
The real estate firm will be consolidating its offices at 540 Madison Avenue, 437 Madison Avenue and 1177 Avenue of the Americas to 75,000 square feet on the 12th and 13th floors at 330 Madison Avenue, according to sources familiar with the deal. Munich RE owns the property while JLL handles all leasing in the building. Asking rents and the length of the lease were not disclosed.
High-end fashion designer Alexander Wang is moving its global headquarters to South Street Seaport.
The Howard Hughes Corporation announced Monday that Alexander Wang signed a lease for 46,000 square feet in the Fulton Market Building.
iCapital is upping its footprint with Empire State Realty Trust.
The fintech firm is expanding for the fourth time since 2017 at One Grand Central, adding 59,000 square feet across two floors, the New York Post reported. The lease brings the company’s footprint up to 141,000 square feet.
