Mizuho takes another 270K sf at Rockefeller’s 1271 Sixth

Deal gives Japanese bank a total of 411K sf at former Time-Life Building

New York /
Nov.November 20, 2017 05:40 PM

1271 Sixth Avenue and Rockefeller Group CEO Atsushi Nakajima (Credit: Rockefeller Group)

Mizuho Americas, the U.S. arm of one of Japan’s investment banking giants, inked a deal for an additional 270,000 square feet at the former Time-Life Building.

The deal adds to Mizuho’s existing lease of 141,000 square feet at the Rockefeller Group’s 1271 Sixth Avenue, for a total of 411,000 square feet, the New York Post reported.

Terms of the deal were not disclosed, but the asking rent for floors previously leased by the bank were in the low-$80s per square foot.

Japan’s Mizuho Financial Group, with $1.8 trillion in assets, was looking to consolidate its space from 320 Park Avenue and other locations in Midtown.

The bank was represented by Mitchell Steir, Matthew Barlow, Steve Berliner and David Goldstein of Savills Studley. Rockefeller was represented by CBRE’s Mary Ann Tighe, Howard Fiddle and John Maher, along with an in-house team led by Ed Guiltinan.

Other tenants in the building include the New York Times, which signed a short-term sublease with Time, Inc., for around 160,000 square feet. Major League Baseball is taking 325,000 square feet at the building, but as The Real Deal reported, the league recently scaled back plans to occupy 400,000 square feet. [NYP]E.B. Solomont


Related Articles

arrow_forward_ios
Renderings of Greenpoint Landing in Greenpoint, 141 Willoughby Street in Downtown Brooklyn and 45-57 Davis Street in Long Island City (Photos via OMA, SLCE Architects and J Frankl Architects)
These were the top outer-borough loans in May
These were the top outer-borough loans in May
SL Green CEO Marc Holliday (Getty, Sl Green)
SL Green shareholders cry foul on CEO bonus
SL Green shareholders cry foul on CEO bonus
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
The commercial market was hit hard by the pandemic, and property tax revenue is expected to fall 5 percent. (iStock)
Tax bills show how much Covid devalued NYC real estate
Tax bills show how much Covid devalued NYC real estate
Richard Segal of Seavest Investment Group, David Marx of Marx Development Group and 902 Quentin Road in Brooklyn (Photos via Seavest Investment Group, Marx Development Group and VRMNY)
Westchester firm buys $54M Brooklyn medical building
Westchester firm buys $54M Brooklyn medical building
Real Estate EFTs See Investment Amid Pandemic Recovery
Why investors are rushing into real estate ETFs
Why investors are rushing into real estate ETFs
Manhattan sublease surge shows signs of slowing
Manhattan sublease scourge finally abates
Manhattan sublease scourge finally abates
Blooma founder Shayne Skaff (LinkedIn, iStock)
CRE fintech startup Blooma nabs $15M in funding
CRE fintech startup Blooma nabs $15M in funding
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...