Savills Studley team represents Mizuho in 148,000 s/f lease at Rockefeller Group property; In-house team of Guiltinan, Stein, Nakamura, Tanikawa and Jeon represent ownership

June 20, 2017 - New York City
Ed Guiltinan,
Rockefeller Group

 

Mitchell Steir,
Savills Studley

 

Manhattan, NY Rockefeller Group has completed a new lease with Mizuho Americas for 148,000 s/f in 1271 Avenue of the Americas. This lease brings Rockefeller Group’s 12-month leasing total along Avenue of the Americas to more than 1 million s/f.

Mizuho Americas is a subsidiary of Mizuho Financial Group, one of the world’s leading financial institutions, with $1.8 trillion in assets globally. Mizuho will occupy the second and third floors, as well as below-grade space in the 2.1 million s/f tower, which is located on the west side of Sixth Ave. between 50th and 51st Sts. in the center of Midtown. In 2016, Rockefeller Group entered into a lease with Major League Baseball for 400,000 s/f in the building.  Approximately 1.3 million s/f in the building’s tower floors remains available for lease, which is one of the largest blocks of contiguous office space in the area.

“With the continued expansion of our corporate and investment banking franchise in the U.S. and across the region during the last several years, strengthening our business and technology infrastructure to match our growing client footprint has become a critical necessity,” said John Buchanan, head of strategy, Mizuho Americas. “Establishing 1271 Avenue of the Americas as our new U.S. headquarters will allow us to better serve clients by bringing together Mizuho employees from multiple office locations in one space, thereby increasing synergies, optimizing resources and enhancing our execution capabilities.”

1271 Avenue of the Americas - 
Manhattan, NY

“Mizuho is one of the most respected firms in finance and banking worldwide, and we are honored to welcome them to the new 1271 Avenue of the Americas,” said Ed Guiltinan, senior vice president and head of leasing in New York for Rockefeller Group. “The ongoing renovations to the building enable Rockefeller Group to provide modern, efficient, and highly-desirable space to tenants in one of the most accessible and amenity-rich locations in Manhattan.  We are pleased that Mizuho in making their decision recognized the many benefits of being located in the new 1271 Avenue of the Americas.”

In 2016, Rockefeller Group started a $600 million redevelopment of 1271 designed by the architectural firm Pei Cobb Freed & Partners.  Major elements of the project include replacement of the building’s glass curtain wall, allowing 60% more daylight into the interior space and enhancing the views, as well as restoration of the building’s landmarked lobby, including its Copacabana-inspired floors, stainless-steel-covered elevator core, marble walls and artworks by Josef Albers and Fritz Glarner.

“The level of interest and activity we are getting for this modern, state of the art building in the heart of Midtown validates Rockefeller Group’s decision to commit to this dramatic renovation,” said John Maher, one of the members of the CBRE leasing team representing Rockefeller Group. “We are thrilled that yet another sophisticated tenant like Mizuho has decided to lease space with us.”

Over the past 12 months, Rockefeller Group has completed more than 1 million s/f of new leases and renewals at 1271 and nearby 1221 Avenue of the Americas, with companies spanning a wide array of industries including technology and media, finance, insurance, consulting and law.  According to Mr. Guiltinan, the reinvestment in well-located assets has been a driving factor for companies making long-term location decisions today.
First completed in 1959, 1271 was originally designed by Harrison & Abromovitz & Harris, the architects for all of Rockefeller Center, and built by George A. Fuller Company, which was known for its construction of many other prominent New York buildings including the U.N. headquarters, Lever House and the Seagram Building.  The building is within walking distance of Grand Central Station, Penn Station, the Port Authority Bus Terminal and more than a dozen subway lines.

The neighborhood’s amenities, within a five-block radius, include 10 parks, 10 museums, 65 hotels, 115 theaters and more than 400 restaurants and 2,000 retail stores.  In-building amenities include well-known and established restaurants including Capital Grille, Ted’s Montana Grill and Le Pain Quotidien, as well as direct access to the B, D, F and M subway lines and the shops at Rockefeller Center.

Mizuho was represented by a Savills Studley team including Mitchell Steir, Matthew Barlow, Steve Berliner and David Goldstein.  Building ownership was represented by a CBRE team including Mary Ann Tighe, Howard Fiddle, John Maher, Sarah Pontius, Evan Haskell and Dave Caperna, in coordination with an in-house Rockefeller Group leasing team including Ed Guiltinan, Jennifer Stein, Yoshinori Nakamura, Taku Tanikawa, Yoko Yamada and Eden Jeon.

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