Manhattan, NY Four new leases covering 109,859 s/f were signed at SL Green Realty Corp.’s 1185 Avenue of the Americas, bringing the tower to 91% leased.
“We are excited to welcome these prestigious new tenants to 1185 Avenue of the Americas,” said Steven Durels, executive vice president and director of leasing and real property at SL Green. “These transactions highlight the sustained demand for high-quality office space for well-located mid-town buildings.”
The new leases include:
• Groombridge, Wu, Baughman & Stone LLP signed a new 10-year lease covering 42,866 s/f on the entire 37th and partial 36th floors. The tenant was represented by Lisa Kiell and Andrew Coe of JLL.
• UHY Advisors NY, Inc. signed a new 10-year lease covering 27,508 s/f on the entire 9th floor. The tenant was represented by Silvio Petriello and Tamika Kramer of CBRE.
• MTS Health Partners, LP signed a new 10-year lease covering 29,166 s/f on the entire 34th floor. The tenant was represented by Stephen Siegel and Sinclair Li of CBRE.
• CFGI, LLC signed a new 5-year lease covering 8,661 s/f on a portion of the 12th floor. The tenant was represented by Joe D’Apice of CBRE.
The landlord was represented on each transaction by Brian Waterman, Jonathan Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark.
Located on Avenue of the Americas between 46th and 47th Sts., the 42-story office tower is within walking distance of Bryant Park, Grand Central Terminal and Penn Station and has access to the Rockefeller Center concourse. The tower is home to a world-class tenant roster, including Syska Hennessey, Industrial & Commercial Bank of China, Northeast Series of Lockton Companies and KEB Hana Bank New York Agency.
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,