1140 Sixth Avenue | TRD Research
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1140 Sixth Avenue

1140 Sixth Avenue
New York, NY 10036
Office, Leasing/Rental, Ground Lease

The 20-story, 179,513-square-foot office and retail tower at 1140 Sixth Avenue in Midtown was completed in 1931 and the subject of an intense bidding war for control of it in 2011.

Private-equity giant the Blackstone Group, along with Equity Office Properties, won the bidding, securing the $116 million non-performing note for the buildings leasehold for around $100 million. There had been about 30 bidders total. The land underneath 1140 Sixth (which is also known as 1140 Avenue of the Americas) is owned by Solil Management, the company that manages the approximately $6 billion real estate empire amassed by the late Sol Goldman.

Shortly after Blackstone won the bidding in May 2011, it sued Solil over a default notice tied to alleged NYC Fire Department violations. Blackstone retained control of the building; and soon embarked on aggressive renovation and leasing pushes. The renovations included a new lobby, new elevators and a new glass façade.

The new tenants included hotelier King & Grove; beauty-industry investment firm Grace Beauty; investment house Knighthead Capital Management; urgent-care practice CityMD; and money manager Starwood Property Trust. During one months-long stretch in 2013, tenants leased around 51,000 square feet in 1140 Sixthor roughly 30 percent of the towers office space.
-TA

  • Address 1140 Sixth Avenue
  • neighborhood Grand Central
  • borough Manhattan
  • owner Tahl Propp Equities
  • owner entity BPGL HOLDINGS, LLC
  • floors 20
  • Year Built 1931
  • square feet 179,513
  • block and lot 1-01260-0001
  • BIN 1034217
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
  • Price per foot $ 85.00
notes
The investment manager inked a 8-year sublease for the Grand Central building at $85 per square foot.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
notes
The urgent care provider signed a lease for the entire 11th floor, which will house its New York headquarters.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 5,284
notes
The hotel company signed a lease for part of the 15th floor.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
notes
The commercial mortgage REIT signed a lease for the entire fifth floor.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 5,284
notes
The hedge fund signed a lease for part of the 16th floor.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 8,500
notes
The hedge fund signed a lease for the entire 20th floor. The tenant is relocating from elsewhere in the Bryant Park area.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
notes
The hedge fund signed a lease for the entire 12th floor. The company is relocating from 623 Fifth Avenue.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 7,466
notes
The manufacturer and distributor for the beauty industry signed a lease, the New York Post reported.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
notes
The hedge fund signed a lease, the New York Post reported. The tenant is relocating from 623 Fifth Avenue.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 17,609
  • Publication Date 06/01/2012
  • Event Date 04/22/2012
  • Party 1 Brokerage JLL
  • Party 1 Broker Michael Shenot, Douglas Neye, Ryan Masiello
  • Party 2 City National Bank
  • Party 2 Brokerage Cushman & Wakefield
notes
The bank signed a 10-year lease for the entire second-floor office space and the building's corner retail space on the ground floor and concourse.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 12,750
notes
The financial services firm signed a 10-year lease for the entire seventh floor. The tenant is relocating from 1185 Sixth Avenue.
  • Event Sales
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 236,000
  • Price $ 98,250,000
  • Price per foot $ 416.31
notes
The loan secured by the property's leasehold interest sold for $98.25 million.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 6,000
notes
The market research firm signed a lease on the 15th floor.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 24,000
  • Price per foot $ 60.00
  • Publication Date 06/01/2010
  • Event Date 04/22/2010
  • Party 2 Office Links
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Steven Strati, Philip Amarante
notes
The office suites provider signed a lease.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 21,300
notes
The commercial real estate firm signed an 11-year sublease on the 21st floor. The building is owned by Stahl Real Estate. The company is moving out of three floors at 1140 Sixth Avenue.
  • Event Office Leasing
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 15,122
  • Publication Date 08/01/2008
  • Event Date 06/22/2008
  • Party 1 Stellar Management
  • Party 1 Brokerage Robinson Ornstein Real Estate Advisors
  • Party 1 Broker Lindsay Ornstein, Patrick Robinson
  • Party 2 P/S/L Group America
  • Party 2 Brokerage CBRE
  • Party 2 Broker Paul Amrich, Patrice Hayden, Fernando Urrutia
notes
The communications company signed a 10-year lease for space on the 14th and 15th floors.
  • Event Sales
  • Address 1140 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 191,000
  • Price $ 97,500,000
  • Price per foot $ 510.47
notes
SL Green sold its leasehold interest in the property for $97.5 million, or $510 per square foot. Stellar Management is acquiring the property in a joint venture with its longtime partner Rockpoint Group. The property was acquired by SL Green in 1997 in conjunction with its initial public offering and is subject to a ground lease with an initial maturity of 2016. SL Green expects to recognize a gain in excess of $60 million.