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

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

TRD 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
Mayor Bill de Blasio (Getty, Wikimedia)

Landlords challenge city laws protecting non-paying businesses

Landlords challenge city laws protecting non-paying businesses
From left: G.H. Palmer's Geoffrey Palme, RFR Holdings' Aby Rosen, Macklowe Properties' Harry Macklowe, Thor Equities' Joseph Sitt and Ellicott Development's Carl Paladino (Getty, iStock)

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks
Photo illustration of Ryan Serhant and  22-43 Jackson Avenue (Getty, Trader Joe's) 

Trader Joe’s to open in LIC early next year

Trader Joe’s to open in LIC early next year
Shawn Mobley (left), is being replaced by Andrew McDonald (right) as CEO of the Americas at Cushman

Shakeup at Cushman: Mobley out, McDonald promoted

Shakeup at Cushman: Mobley out, McDonald promoted
4 Times Square (Google Maps, TikTok)

What happens if Trump banishes TikTok, savior of NYC’s office market?

What happens if Trump banishes TikTok, savior of NYC’s office market?
(iStock)

To survive, NYC retailers are treating average Joe’s like they’re rich

To survive, NYC retailers are treating average Joe’s like they’re rich
The financing deal comes after AMC theaters have been shuttered for months due to the coronavirus pandemic. (iStock)

AMC nears deal to avoid bankruptcy

AMC nears deal to avoid bankruptcy
CIM Group’s Shaul Kuba, Knotel's Amol Sarva, Related Group’s Jorge Pérez and The Agency’s Mauricio Umansky (Getty, Sarva by Sasha Maslov, iStock)

These real estate companies got fat PPP loans

These real estate companies got fat PPP loans
arrow_forward_ios

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

Loading...