Silverstein Props. signs two new leases at 1177 Avenue of the Americas totaling 47,929 s/f

Manhattan, NY Silverstein Properties negotiated two new leases at 1177 Avenue of the Americas. Mill Point Capital Partners, a private equity firm, has signed a nearly six-year expansion lease on the entire 44^th floor of the 47-story tower, bringing its total footprint in the building to 23,289 s/f. The YMCA Retirement Fund has signed a 24,640 s/f, 13-year lease, spanning the entire 16^th floor of the building, moving from its previous headquarters at 120 Bdwy. Combined, the two headquarters will occupy 47,929 s/f in the class-A Midtown building.

Mill Point Capital has leased its company headquarters at 1177 Avenue of the Americas since 2019.

The YMCA Retirement Fund has been a Silverstein tenant since 1999. The Fund moved to 120 Bdwy. in 2013. Now with this relocation, designed to accommodate employee commute preferences, it will continue to lease space within the Silverstein portfolio.

Bruce Mosler, Lou D’Avanzo, Ethan Silverstein, Anthony Lopresti, Peter Kerans, Caroline Collins of Cushman & Wakefield represented the landlord in both deals. Erik Harris of Newmark represented Mill Point Capital Partners, and Laurence Briody, Lauren Crowley, Courtney Hughson and Eric Sears of CBRE represented YMCA Retirement Fund.

“Mill Point Capital Partners and the YMCA Retirement Fund have been highly valued tenants of ours for many years. We’re thrilled to welcome both organizations to their new offices at 1177 Avenue of the Americas,” said Gordon Hough, vice president of leasing at Silverstein Properties. “Whether in Midtown or Lower Manhattan, well-amenitized buildings in dynamic neighborhoods continue to attract a diverse range of tenants seeking a modern, comfortable office experience with access to transit and New York’s best restaurants, sights, and cultural destinations.”

“With our business rapidly growing, we are eager to continue expanding our reach and accommodate our growing team with a larger space at 1177 Avenue of the Americas,” said Michael Duran, founder and managing partner at Mill Point Capital. “With its state-of-the-art amenities and convenient location in Midtown, this building provides unmatched opportunities for collaboration, productivity and ease of access into the city for our employees, and I am excited for our team to take advantage of all its offerings in the years to come.”

“For over a decade, the Silverstein offices at 120 Broadway have provided our team with the space to grow, serve and connect with our team and the city around us,” said Gordon Bailey, chief administrative officer of YMCA Retirement Fund. “We’re looking forward to experiencing the same caliber of high-quality office space in an equally exciting new location at 1177 Avenue of the Americas.”

Located between 45^th and 46^th Sts., 1177 Avenue of the Americas is a 47-story class A office tower home to a roster of existing tenants, including law firm Kramer Levin, The Weather Channel, Tradeweb and Practicing Law Institute.

Silverstein has developed, owned and managed more than 40 million s/f of office, residential, hotel and retail space, including several Midtown properties. Across Silverstein Properties’ portfolio, tenants have access to a new hospitality program, INSPIRE, offering premier hotel-quality amenities, community events, fitness classes, and access to every amenity space and flexible co-working space in the Silverstein portfolio, allowing customers to choose the best work environment for their needs.