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TIAA-CREF

730 Third Avenue
New York, New York 10017
(212)-490-9000
Website
TIAA-CREF
TIAA-CREF is a large pension fund investing for academics, researchers, government workers and others. It was founded in 1918 by Andrew Carnegie, and has since become a major player in the real estate industry. The fund began investing in real estate in 1934 and then broke into direct ownership in New York City real estate at the end of World War II when the fund purchased a storefront in Queens and an office building in Midtown. TIAA-CREF’s real estate account has outpaced comparable real estate funds in recent years, averaging roughly 10 percent returns in recent years. It also has bought stakes in various office buildings and high-end retail storefronts (such as Apple’s 14th Street building). Among TIAA-CREF’s premier properties over the years are the famed Seagram Building (which it sold in 2000) and 7 World Trade Center. Its most recent expansion, the 2014 acquisition of Henderson Global Investors, resulted in a huge boost to the pension’s real estate holdings to more than $80 billion.
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06/15/16
A financial services firm and the governing body of the Commonwealth of Nations, formerly the British Commonwealth, will soon take up residence at TIAA’s 685...

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  • Event Office Leasing
  • Address 685 Third Ave
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 13,683
  • Publication Date 06/01/2015
  • Event Date 04/22/2015
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JLL
  • Party 1 Broker Don Kollar
  • Party 2 Chang Hwa Commercial Bank
  • Party 2 Brokerage First New York Realty
  • Party 2 Broker Soon H. Rhee, Norman Bobrow
notes
The Taiwan-based bank signed a 15-year renewal lease.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 32,000
notes
The social media company signed a lease for its first New York City office.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 16,029
notes
The investment management firm signed a 10-year lease for the entire 10th floor.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 7,842
notes
The bank signed a 10-year lease for the entire 18th floor.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 4,319
notes
The global provider of air conditioning and refrigeration signed a 10-year lease for the entire 21st floor.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 22,372
notes
The financial communications consultancy signed a 10-year lease for the entire second floor, the New York Observer reported.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 58,527
notes
The publishing company signed a 15-year lease on the ninth and 10th floors. The tenant is relocating from 711 Third Avenue.
  • Event Sales
  • Address 1511 Third Avenue
  • Neighborhood Yorkville
  • Borough Manhattan
  • Price $ 60,000,000
notes
The property sold for $60 million. The building is fully leased to two retail tenants: the Gap on the ground floor and basement and Equinox on the upper three floors. The New York Observer reported that the buyer was TIAA-CREF and that the seller was the Related Companies.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 74,349
notes
The enterprise cloud computing company signed a 10-year lease for the entire sixth and seventh floors, as well as part of the eighth floor. The tenant is relocating and expanding from a smaller, 16,350-square-foot space at 2 Grand Central Tower.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 9,361
notes
The strategic marketing agency signed a seven-year lease on the 16th floor.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 10,181
notes
The law firm signed a nine-year lease on the third floor.
  • Event Sales
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 280,000
  • Price $ 144,000,000
  • Price per foot $ 514.00
notes
The property sold for $144 million, or about $514 per square foot. A joint venture of real estate developer Joseph Moinian and Westbrook Capital acquired 475 Fifth Avenue, located at 41st Street, in 2007 for $160 million, but lender Barclays took the property back in 2009 through a deed in lieu of foreclosure.
  • Event Sales
  • Address 200 West 72nd Street
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Price $ 209,000,000
  • Price per foot $ 1,400.00
notes
The rental building known as the Corner sold for $209 million, or about $1,400 per square foot. The selling group will hold onto the 48,000-square-foot retail space in the property, currently home to Trader Joe's and Duane Reade.
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 315,000,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 Goelet family
  • Party 2 TIAA-CREF
notes
The land underneath the building sold for $315 million.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 20,362
  • Publication Date 05/01/2011
  • Event Date 03/22/2011
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty
  • Party 1 Broker Greg Smith
  • Party 2 Peppercom
  • Party 2 Brokerage JLL
  • Party 2 Broker James Quinn, Gary Youm, Ryan Masiello
notes
The strategic communications agency signed a 15-year lease renewal for the entire fourth and fifth floors.
  • Event Office Leasing
  • Address 780 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,146
  • Price per foot $ 70.00
  • Publication Date 12/01/2010
  • Event Date 10/22/2010
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty
  • Party 1 Broker Jodi Pulice, Greg Smith, Kate Pezzolla
  • Party 2 Jeffrey Modell Foundation
notes
The nonprofit signed a lease on the 47th floor.
  • Event Sales
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 500,000
  • Price $ 190,000,000
  • Price per foot $ 340.00
  • Publication Date 10/01/2010
  • Event Date 08/22/2010
  • Party 1 TIAA-CREF
  • Party 1 Brokerage CBRE
  • Party 2 TIAA-CREF
notes
The building closed for $190 million, or about $340 per square foot. In June, it was reported that more than a dozen bidders were vying for the property with prices hovering around $150 million. The closing price is approximately 27 percent higher than the offers.
  • Event Office Leasing
  • Address 730 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 43,000
  • Publication Date 01/01/2010
  • Event Date 11/22/2009
  • Party 1 TIAA-CREF
  • Party 2 Sentry Centers
notes
The operator of executive business spaces signed a lease on three floors.
  • Event Office Leasing
  • Address 730 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 120,000
  • Publication Date 11/01/2009
  • Event Date 09/22/2009
  • Party 1 TIAA-CREF
  • Party 1 Brokerage CBRE
  • Party 1 Broker Howard Fiddle, Zach Freeman, Rima Shpolyansky
  • Party 2 United Nations
  • Party 2 Brokerage FirstService Williams
  • Party 2 Broker Andrew Roos, Donald Lutt
notes
The United Nations signed a four-year lease for three floors.
  • Event Financing
  • Address 420 Lexington Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1,500,000
  • Price $ 145,000,000
notes
A $145 million leasehold mortgage was arranged to refinance the property. The loan was provided at a fixed rate of 7.5 percent and matures in 2016, featuring two one-year extension options. SL Green is now able to retire the former mortgage, which was due to mature in November 2010 and which carried a rate of 8.44 percent. SL Green acquired the building, which is reportedly 97 percent leased, in 1998. 31-story office building.
  • Event Office Leasing
  • Address 730 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 30,671
  • Price per foot $ 46.00
notes
The global consulting and research firm inked a seven-year lease for the entire 11th floor. The company is relocating from 444 Madison Avenue.
  • Event Office Leasing
  • Address 780 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,446
  • Publication Date 11/01/2008
  • Event Date 09/22/2008
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty, Cushman & Wakefield
  • Party 1 Broker Jodi Pulice, Greg Smith, James Clifford
  • Party 2 Twenty-First Securities Corporation
notes
The financial services firm leased space.
  • Event Office Leasing
  • Address 780 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 9,500
  • Publication Date 11/01/2008
  • Event Date 09/22/2008
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty, Cushman & Wakefield
  • Party 1 Broker Greg Smith, James Clifford
  • Party 2 Garrigues
  • Party 2 Brokerage Helmsley Spear
  • Party 2 Broker Stanley Conway
notes
The law firm inked a 10-year lease for the entire 35th floor.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 9,555
  • Publication Date 11/01/2008
  • Event Date 09/22/2008
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty, Cushman & Wakefield
  • Party 1 Broker Jodi Pulice, Greg Smith, James Clifford
  • Party 2 Horizon Asset Management
notes
The investment advisory firm inked an expansion lease for the entire eighth floor, increasing its occupancy in the building to 27,555 square feet. The company already occupies the third and fourth floors.
  • Event Office Leasing
  • Address 780 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 11,300
  • Publication Date 07/01/2008
  • Event Date 05/22/2008
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty
  • Party 2 Hinshaw & Culbertson
  • Party 2 Brokerage US Equities
notes
The law firm signed a lease.
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