FDIC signs for 147,543 s/f at EJME’S 1166 Avenue of the Americas

Manhattan, NY According to Edward J. Minskoff Equities (EJME) and JLL, the FDIC has leased 147,543 s/f of office space at 1166 Avenue of the Americas, the 44-story skyscraper that occupies the entire blockfront of Avenue of the Americas between 45th and 46th Street.

The transaction follows the recent completion of a $235 million refinancing of the property by Wells Fargo, which held the previous loan on the building.

FDIC will relocate to 1166 Avenue of the Americas from the Empire State Building in a 10-year lease, occupying the partial 7th floor and the full 8th, 9th and 10th floors of the property. Asking rents for the building begin in the $80s per s/f.

EJME, a developer, owner and manager of institutional quality real estate nationally, owns condominium interests which comprise floors 2 through 21 of 1166 Avenue of the Americas, which was designed by Skidmore, Owings and Merrill and built in 1975. 

JLL leasing professionals Paul Glickman, vice chairman; Diana Biasotti, senior vice president; Cynthia Wasserberger, vice chairman, and Christine Colley, executive managing director, represented EJME in the 10-year leasing transaction. The tenant was represented by Connor Faught, executive vice president, and Sheena Gohil, vice chair, with Colliers. Jeffrey Sussman, executive vice president, and Matt Pynn, vice president, represented EJME in-house.

“1166 Avenue of the Americas is a premier Midtown asset that provides a superior tenant experience beginning in the Gensler-redesigned lobby, which houses an extensive art collection, and continuing throughout the building with a host of market-leading amenities,” said Edward J. Minskoff.

“We are pleased to welcome the FDIC to 1166 Avenue of the Americas where institutional ownership continues to prioritize the tenant experience,” said Glickman, noting that the landlord is creating a new fitness facility and lounge adjacent to the building’s brand new, 12,000-square-foot conference center. 

Biasotti said, “EJME’s ongoing investment in best-in-class amenities, coupled with the property’s superior floor plates and prime midtown location, make 1166 Avenue of the Americas a leading destination in the Manhattan office market.”

Renowned for its lobby which features a sculpture by contemporary artist KAWS as well as tapestries by pop artist Roy Lichtenstein, 1166 Avenue of the Americas recently underwent a series of upgrades that included the new conference center, high-speed elevators with destination dispatch and new restrooms with touchless features. The tower has a landscaped, block-long outdoor plaza, bike storage and its digital capabilities are certified WiredScore Gold. 

Situated next to from Bryant Park, 1166 Avenue of the Americas is nearby Grand Central, Penn Station and the Port Authority and offers convenient access to subways and bus lines.