The Real Deal New York

State Street Bank inks 106K SF lease at Vornado’s 1290 Sixth Avenue

April 09, 2013 10:00AM

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

State Street was represented by Jones Lang LaSalle’s Peter Riguardi, Cynthia Wasserberger and Paul Mas. Vornado was represented by an in-house team of Glen Weiss and Thomas Costanzo. The brokers were either unavailable or unwilling to comment to the Post.

State Street will pay rents somewhere in the mid-$50s range, brokers familiar with the deal but not involved in it told the Post. Asking rents on some other floors are $65 per square foot, according to online databases seen by the Post. [NYP, 3rd item]Hiten Samtani