Screen Actors Guild inks $50M lease deal at One Lincoln Plaza

TRD New York /
May.May 10, 2013 02:30 PM

The Screen Actors Guild‐American Federation of Television and Radio Artists has inked a lease for almost 55,000 square feet of space at One Lincoln Plaza, where the performing artists’ union will make its New York City headquarters, The Real Deal has learned. 

SAG-AFTRA — which was formed after the two labor unions representing performers merged last year — will pay rents in the mid-$40s, putting the total value of the 20-year deal at just under $50.5 million, according to data from commercial real estate information company CompStak.

The 42-story, 968,442-square-foot mixed-use building is located at 1900 Broadway, between 63rd and 64th streets across from Lincoln Center, and is owned by Plaza International Real Estate.

“It is fitting that the most powerful entertainment union in the world relocate our New York Local to the center of arts and culture in New York City,” SAG-AFTRA’s co-president of the New York division Mike Hodge said in a statement on the union’s website.

AFTRA currently leases 20,849 square feet for its 75 employees at 260 Madison Avenue in the Grand Central submarket, while SAG leases 41,870 square feet on two floors at 360 Madison Avenue in the same submarket.

“Not only will this truly ‘merge’ our offices and staffs,” Hodge said, “but we will no longer be paying two rents. It’s a great move.”

CBRE’s Laurence Briody, who handles leasing for the landlord at the building, was not immediately available for comment. It was not immediately clear which brokers represented the unions. SAG-AFTRA representatives were not immediately available for comment.

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