Paramount Group names Newmark Grubb Knight Frank exclusive agent of 1301 Avenue of the Americas

Office owner Paramount Group, Inc., has awarded Newmark Grubb Knight Frank the exclusive leasing duties for 1301 Avenue of the Americas, a 1.75-million s/f, 45-story, class A office tower that occupies the entire block between 52nd and 53rd Sts. Paramount's selection of NGKF is significant because it is the first time the property owner has hired an outside firm to market this asset. There is 340,586 s/f available, featuring a prime opportunity to secure a contiguous block of 180,689 s/f in the tower section of the property. These highly efficient 30,000 s/f floors have significant Central Park and Manhattan skyline views, and appeal to the more traditional law firm, private equity and hedge fund occupiers. In addition, the entire seventh floor comprising 63,211 s/f is available. Tenant demand for large open floor plates is noteworthy on Avenue of the Americas, according to NGKF executive managing director Andrew Sachs. He and executive managing director Timothy Gibson, with managing directors Bill Levitsky and Ben Shapiro, will head up 1301's leasing efforts. The assignment is the team's first big win since joining NGKF in September from Cushman & Wakefield. "1301 Avenue of the Americas is a tremendous asset that offers tenants a variety of floor plate sizes and rental rates. Combined with its direct concourse connection to Rockefeller Center and seven subway lines, large window ribbons that maximize daylight, branding opportunities and a prestigious full block lobby entrance, the available space at 1301 Avenue of the Americas has seen terrific traction in the marketplace," Sachs said. The most recent addition to the prestigious tenant roster is Chadbourne & Parke, which leased 203,102 s/f. Tenants of note in 1301 Avenue of the Americas include Barclays, Crédit Agricole, Commerzbank, and OakTree Capital Management. Paramount Group received a BOMA Pinnacle Award (for buildings over 1 million s/f) for 1301 Avenue of the Americas, which is also LEED certified and has an ENERGY STAR award.