The Real Deal New York

New York City REIT taps Avison Young to lead marketing at 1140 Sixth Avenue

Firm bought leasehold in 2016 for $180M
October 03, 2018 09:02AM

Avison Young’s Todd Korren and 1140 Sixth Avenue (Credit: Avison Young and Google Maps)

UPDATED at 11:32 A.M. on Wednesday, Oct. 3.: New York City REIT has chosen Avison Young to lead leasing for its boutique office building at 1140 Sixth Avenue.

The REIT, affiliated with AR Global, acquired the 250,000-square-foot building, part of the Equity Office portfolio, in 2016 from the Blackstone Group. The 20-story building, which also has a retail component, was 91 percent leased when it was acquired.

The new Avison Young marketing team, led by Todd Korren, will advertise rental space between $84 and $89 a square foot, according to the New York Post. The leasehold runs through 2066.

Korren said NYC REIT has no plans to sell the asset. [NYP] — David Jeans

Correction: An earlier version of this story incorrectly stated the leaseholder was New York REIT, not New York City REIT.