Manhattan, NY SL Green Realty Corp. said that Howden Tiger, a reinsurance brokerage, has signed a 10-year, 31,916 s/f renewal and expansion lease at 1350 Avenue of the Americas. Howden Tiger’s footprint now includes its currently occupied 13,287 s/f on the entire 33rd floor, together with the addition of 18,629 s/f on the entire 34th and penthouse floors.
“We’re excited to expand our highly-valued relationship with Howden Tiger,” said Steven Durels, SL Green’s executive vice president, director of leasing and real property. “Our ongoing re-investment in our buildings provide our tenants with best-in-class, healthy workplace environments to meet the demands of todays market.”
Located in the Plaza District at the southeast corner of 55th St., 1350 Avenue of the Americas is a 601,330 s/f, 35-story class-A tower.
Howden Tiger was represented by Leo Paytas of Newmark, and the landlord was represented in-house by Howard Tenenbaum and Gary Rosen.
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,