The Real Deal New York

Bank of Tokyo unit takes sizable space at McGraw-Hill Building

Japanese firm signs up for 210,000 square feet at base of the tower
October 21, 2014 11:08AM

MUFG Union Bank, a subsidiary of the Japanese Tokyo-Mitsubishi Bank, signed one of the biggest new office leases of the year. The firm is taking 209,700 square feet on the bottom three floors of the Rockefeller Group’s McGraw-Hill Building in Midtown.

In July, the Japanese Tokyo-Mitsubishi Bank was in talks to take a larger space – 303,000 square feet – at the base of the building at 1221 Sixth Avenue, as previously reported.

Omar Farooq and Fred Smith of Cushman & Wakefield represented the bank. Ed Guiltinan of the Rockefeller Group and John Cefaly of Cushman represented the landlord.

Asking rents on the 2.5 million-square-foot building’s lower floors are $78 per square foot, according to data cited by the New York Post. [NYP]Mark Maurer