KeyBank expands to 112,924 s/f at 1301 Ave. of the Americas

Manhattan, NY Elecor Properties said that KeyBank has expanded its footprint at 1301 Avenue of the Americas to a total of 112,924 s/f. The 1.8 million s/f Midtown office tower is fully leased.

KeyBank’s 15,292 s/f expansion and 15-year renewal will span the entirety of floors 35 through 37, along with portions of floors 28 and 38. The transaction builds on KeyBank’s longstanding presence at 1301 Avenue of the Americas.

JLL’s tenant representation team advising KeyBank was led by vice chairman Matthew Astrachan, executive managing director Justin Haber and managing director Kyle Riker in New York, senior vice president Adam Hill in Denver and senior vice president Bob Beckstedt, based in JLL’s Chicago office. JLL has served as the bank’s national real estate services provider for 17 years, with Hill and Beckstedt leading the national account. Elecor was represented by Elecor Properties executive vice president, head of real estate Peter Brindley, senior vice president, leasing Douglas Neye, and vice president, leasing Sean Kirk.

“KeyBank’s growing presence is a powerful endorsement of both 1301 Avenue of the Americas and the premium experience we provide our tenants,” said Douglas Neye, Elecor Properties’ senior vice president of leasing. “KeyBank’s decision to act quickly when additional space became available demonstrates the strength of its long-term commitment and the enduring appeal of a high-quality, well-located workplace.”

“This was a highly strategic transaction that addressed several priorities at once: securing more space for KeyBank’s growing businesses, keeping its teams together within one elevator bank, creating the opportunity to upgrade the existing workplace and establishing a true New York City headquarters with prominent signage,” said JLL vice chairman Matthew Astrachan. “Our longstanding relationship with KeyBank and close coordination across the national account team enabled us to move quickly and complete a complex long-term transaction in less than four months.”

Located in the Plaza District between West 52^nd and West 53^rd Sts., 1301 Avenue of the Americas is a 45-story, 1.8 million s/f office tower designed by Shreve, Lamb & Harmon. The property is home to a distinguished roster of leading financial, legal and professional services firms and offers direct access to Rockefeller Center, premier dining and retail destinations, and extensive subway and regional transit connections.

“As KeyBank continues to grow and adapt to the evolving needs of our business, we remain focused on providing our employees with an environment that fosters collaboration and connection,” said John Manginelli, Hudson Valley/Metro NY Market president, KeyBank. “Expanding our footprint at 1301 Avenue of the Americas enables us to support that vision while positioning us for continued growth and enhanced service to our clients across the region.”

Tenants also enjoy exclusive access to The Paramount Club, a 32,000 s/f amenity center featuring hospitality-inspired dining, wellness, conferencing and entertainment spaces.