Brookfield Properties signs five office leases at the Grace Building, now 100% leased

New York, NY Brookfield Properties and the Swig Companies announced today the signing of five leases totaling 165,004 s/f at the iconic Grace Building, an elite commercial tower situated steps from Bryant Park. The tower is now 100% leased following Brookfield’s successful investment in the property.

“The recent investments we made to redesign the Grace Building’s public plaza and lobby has enhanced the drawing power of a property that was already a trophy asset. The proof is in  the high caliber of tenants that we are welcoming to the Grace Building. We’re thrilled to now be fully leased,” said Jeremiah Larkin, executive vice president, Leasing at Brookfield Properties. “The strong momentum at the Grace Building and across our portfolio makes clear that Brookfield is well positioned to welcome tenants and employees back to beautiful, modern and state-of-the-art offices” 

The five leases include:

• Antin Infrastructure Partners has signed a lease covering 32,001 s/f on the entire 20th floor. The tenant was represented by Barbara Winter and Robert Martin of JLL. 
• Brunswick Group has signed a lease covering 60,194 s/f on the entire 24th and 25th floors. The tenant was represented by Brian Goldman & Matthew Lorberbaum of Newmark. 
• Vinson & Elkins has signed a lease expansion covering 16,690 s/f on part of the 30th floor. The tenant was represented by Lewis Miller, Jason Gorman & Zachary Weil of CBRE. 
• EQT Partners has signed a lease expansion covering 11,609 s/f on part of the 16th floor. The tenant was represented by Michael Movshovich and Ethan Silverstein of Cushman & Wakefield.
• Arch Insurance Company has signed a lease covering 44,510 s/f on part of the 12th floor and the entire 14th floor. The tenant was represented by Mark L. Ravesloot, Scott Sloves & Colin Reilly of CBRE. 

Brookfield Properties was represented by Ken Rapp, Peter Turchin, Christie Harle, Cara Chayet and Alex Benisatto of CBRE.

The Grace Building is an iconic 49-story, 1.6 million s/f, LEED Gold-certified office building with an office tenant mix of leading companies from a wide array of industries. The Grace Building is located on 42nd St. between Fifth Ave and Ave of the Americas in the center of one of New York City’s most vibrant neighborhoods. Overlooking Bryant Park and centered between Grand Central Terminal and Times Square, the area is one of New York’s prime office locations as well as a dining destination. In addition to its proximity to Grand Central, the site features convenient access to most Manhattan subway lines.

In 2018, Brookfield Properties commenced plans for the building’s revitalization, transforming the public plaza that sits adjacent to Grace and the neighboring 1100 Ave of the Americas with new seating, greenery and event programming through Arts Brookfield. To complement these efforts, Brookfield is in the process of tenanting brand-new storefront retail spaces at Grace with high-end culinary and amenity concepts. Brookfield also completed a redesign of the Grace Building lobby to introduce a contemporary aesthetic and feature a colossal sculpture of the human form, entitled Grosser Geist Nr. 9, by the world-renowned artist Thomas Schutte. Brookfield completed the lobby redevelopment in August 2019 and plaza redevelopment is scheduled to be complete in late 2022