UPDATED, 5:37 p.m., May 23: In what is the largest sublease of the year so far, Morgan Stanley has inked a 148,421-square-foot deal at Vornado Realty Trust’s 1290 Avenue of the Americas, according to data from commercial real estate firm Cassidy Turley provided to The Real Deal. See chart after the jump.… [more]
Posts Tagged ‘1290 sixth avenue’
State Street Bank has inked a 105,951-square-foot deal at Vornado Realty Trust’s 1290 Sixth Avenue, also known as the AXA Financial Center, the New York Post reported.
The 10-year deal is a major shot in the arm for the sluggish Sixth Avenue corridor. State Street will take the entire sixth floor, which more than doubles the bank’s presence in the building, and will vacate 70,000 square feet at Brookfield Office Properties’ 2 World Financial Center, as well as it part of the 10th floor that it occupies under a sublease at 1290 Sixth Avenue. [more]
Vornado Realty Trust has nabbed a $950 million refinance of the 43-story, 2 million-square-foot office tower at 1290 Sixth Avenue, GlobeSt reported. This comes in the wake of Vornado’s announcement that it would upgrade the building, including a new turnstile system, updated restrooms and a refurbished cooling tower.
Vornado has a 70 percent controlling interest in the property, where tenants include Cushman & Wakefield, Wenner Media and Microsoft. [more]
Large companies seeking space along Sixth Avenue, the city’s first address for Fortune 500 companies, are awash with options, the New York Observer noted. One broker said there’s so much unoccupied square-footage that a prospective tenant had to take three separate tours to see all the available space that met their needs. [more]
[Updated at 12:38 p.m.] An elevator worker was electrocuted to death while performing repair work yesterday evening at 1290 Sixth Avenue, between 51st and 52nd streets, a New York Fire Department spokesperson confirmed to The Real Deal.
A call came in reporting the incident at 9:31 p.m. yesterday the FDNY said. The 39-year old man, who the New York Daily News identified as Ed Bradley, was found on top of live wires, according to reports. New York Magazine reported that the man leaves behind three children. [more]
In a down office leasing market, landlords are not only offering more in the way of tenant incentives — such as paying for a tenant’s build out — they are getting more creative about what sorts of incentives to offer, the Wall Street Journal reported.
For instance, at 229 West 43rd Street, landlord Blackstone Group is willing to create outdoor terraces and private entrances and is even considering letting workers bring their dogs to work, the paper said. [more]
From left: Mark Weiss, vice chairman of Newmark Knight Frank, 1290 Sixth Avenue and 14 East 103rd Street (credit: PropertyShark)Buoyed by an aging population, new government initiatives and, in some cases, the struggling economy, health care industry real estate activity in the city has doubled over the last year, according to the New York Times.
This year there have been 42 new leases and renewals totaling more than 1.2 million square feet, according to Cushman & Wakefield, compared to 25 transactions and 550,700 square feet in 2010, and 16 deals for 176,311 square feet in 2009.
Many of these deals, including ColumbiaDoctors’ 25-year lease for 120,000 square feet at 1290 Sixth Avenue, with rights of first offer for additional space, were spurred by an expected increase in demand stemming from President Barack Obama’s health care overhaul, the Times said. … [more]
Top row, from left: Mitchell Konsker, Paul Glickman, Mitti Liebersohn and Alex Chudnoff. Bottom row, from left: 99 Park Avenue, 1290 Sixth Avenue, 681 Fifth Avenue and 1411 Broadway
Following the exit by five major leasing brokers from Cushman & Wakefield to Jones Lang LaSalle last month, there has been a behind-the-scenes battle over who is the landlord leasing representative for millions of square feet of Manhattan office space that had been handled by Cushman.
In that contest, JLL has picked up at least three buildings owned by Midtown-based Eastgate Realty with more than 1.7 million square feet.
The buildings are the 550,000-square-foot 99 Park Avenue, the 530,000-square-foot 120 Park Avenue and 665,000-square-foot 875 Third Avenue, data from CoStar Group shows…. [more]