Lounge to open in McGraw Hill Building

A new lounge is opening on the 48th Street side of the McGraw Hill Building, at 1221 Sixth Avenue. The lounge, called Forty Eight, is owned by Dave Nader and Brian Packin, who opened the Stone Rose Lounge at the Time Warner Center. The 5,500-square-foot space was previously occupied by Duane Reade, and brokers say asking rents in the area are about $200 per square foot. The lounge, which will serve cocktails, wines and small plates of food, is expected to open this summer.