The Real Deal New York

UBS looking to take as much as 900K sf in Midtown

AXA Financial won't renew megabank's lease at 1285 Sixth Avenue

October 27, 2015 09:15AM

Ulrich Korner Pierre Vaquier

From left: UBS’s Ulrich Korner and AXA’s Pierre Vaquier

UBS, one of the world’s largest banks, is seeking a massive Midtown space for its new New York headquarters.

The Swiss bank is looking for a space between 700,000 and 900,000 square feet.

It has seen or will soon see sales presentations from representatives of the Durst Organization’s 4 Times Square, Rockefeller Group’s 1271 Sixth Avenue, the Related Companies’ Time Warner Center, SL Green Realty’s One Vanderbilt and Brookfield’s One Manhattan West.

Behind the story:
1285 Sixth Avenue

The company is being forced to move by its current landlord at 1285 Sixth Avenue, AXA Financial, which has placed the tower on the market, along with another tower at 787 Seventh Avenue. AXA told UBS it won’t renew its lease, which expires in 2020, the New York Post reported. AXA hopes to collect $4 billion from the sale of the two towers.

UBS currently occupies 900,000 square feet at 1285 Sixth Avenue and also leases 120,000 square feet at 787 Seventh Avenue. [NYP]Ariel Stulberg