Chubb Corporation expands by 46K sf at Durst’s 1133 Sixth Avenue

Mega property insurer now occupies 184K sf in the Midtown building

TRD New York /
Apr.April 14, 2016 05:40 PM

The Chubb Corporation, the world’s largest publicly traded property and casualty insurer, took two additional floors at its longtime headquarters on Sixth Avenue to expand by more than 45,000 square feet.

The company signed an eight-year lease for 45,910 square feet at the Durst Organization’s 1133 Sixth Avenue, bringing Chubb’s total footprint in the building to 184,000 square feet. About 80,000 square feet of available space remains in the building.

The asking rents for the 11th and 35th floors are $77 and $93 per square foot, respectively.

Martin Horner and Pam Klyn of JLL represented Chubb, while the in-house team of Tom Bow and Rocco Romeo negotiated on behalf of the landlord.

Swiss insurer Ace Limited acquired Chubb in January for $29.5 billion — the latest in a string of mergers and acquisitions fueled by low interest rates and modest claims from hurricane damage in recent years.

Ace then adopted the Chubb name and engaged in a rebranding. The company has a market capitalization of $55.8 billion.

Chubb has been a tenant since 1998 at Durst’s 1.1 million-square-foot building, which has seen a frenzy of deal activity lately.

ING North America Insurance, and Booz Allen Hamilton recently signed leases in the building, located between 43rd and 44th streets. Also, last year, the National Basketball Players Association inked a 20-year deal for 48,000 square feet there. The transaction put brokers Arthur Mirante and Martin Cottingham of Avison Young in the running for a Real Estate Board of New York “Most Ingenious Deal of the Year Award.


Related Article

arrow_forward_ios
733 Third Avenue and Durst Organization president Jordy Durst (Credit: Google Maps and Durst Organization)

Tax firm EisnerAmper relocating large East Side office

Jonathan Schwartz and Aaron Appel

Aaron Appel leaves JLL to launch own firm

Tom Brady, Gisele home shop in suburbs, North Jersey industrial site sells for $66M & more Tri-State real estate news

One Bryant Park (Credit: The Durst Organization)

Bank of America leads $1.6B refi for tower named after it at One Bryant Park

HFF brokers hit the ground running at JLL in New Jersey, SALT cap hurts Lower Hudson Valley housing market & more Tri-State real estate news

Somerville moves forward with 31-acre transit village, Woodcliff Lake office property sold for $36M & more North Jersey real estate news

Sale closes on 718-acre Meadowlands site that Trump sought to develop, Morristown office property gets $54M loan & more North Jersey real estate news

JLL mulling future of debt team amid
HFF merger

arrow_forward_ios