News: Brokerage

Falk, Shimkin, Cagner, Canete and Berger of NGKF lease 73,600 s/f

251 Avenue of the Americas -
Manhattan, NY

Manhattan, NY Mitsui Fudosan America, Inc. (MFA) has signed two leases totaling 73,600 s/f at its flagship property at 1251 Avenue of the Americas. Berenberg Capital Markets LLC and McGuireWoods LLP are the newest tenants at the Sixth Ave. tower. David Falk, Peter Shimkin, Eric Cagner, Romel Canete, and Nick Berger of Newmark Grubb Knight Frank represented MFA on both leases.

“We are pleased to welcome Berenberg Capital Markets and McGuireWoods to 1251 Avenue of the Americas,” said Christopher Perez, SVP of MFA. “Both tenants exemplify the kind of leading companies that have enjoyed great success at 1251. We look forward to serving as their New York headquarters for many years to come.”

Berenberg Capital Markets LLC, a subsidiary of the second oldest bank in the world, the German bank Berenberg, which was founded in 1590, signed a 12-year lease on March 15th. Berenberg will occupy the entire 53rd floor, 31,700 rentable s/f. Mitchell Konsker, Alexander Chudnoff, and Benjamin Bass of Jones Lang LaSalle represented Berenberg.

“We are proud to call 1251 Avenue of the Americas our new home, from where we want to grow our business in the United States,” said David Mortlock, global head of equities at Berenberg.

McGuireWoods LLP, a leading global law firm, will occupy the entire 20th floor, which is 41,900 rentable s/f and part of the concourse level totaling 1,659 rentable s/f. The 15-year lease commenced on March 2nd. Chris Mongeluzo and Brian Cohen of Newmark Grubb Knight Frank represented McGuireWoods.

“McGuireWoods continues to successfully grow its New York City Office.  At 1251 Avenue of the Americas, we look forward to creating an office space that will be indicative of the firm’s increasing New York profile and presence,” said Noreen Kelly, managing partner for McGuireWoods’ New York office.

1251 Avenue of the Americas is a premier property with a highly desirable midtown Avenue of the Americas location for a wide range of U.S. and international law firms, financial institutions and other leading companies. The 54-story, 2.4 million square-foot building is currently 98% leased.

In addition to its commercial office and residential development and acquisition activities in New York, MFA is also actively developing office and residential projects in Washington D.C., San Francisco, Los Angeles and Seattle.    

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,