Huge office block opening up at McGraw-Hill tower
The largest contiguous block of class A office space in Midtown will soon come available at 1221 Sixth Avenue on Rockefeller Center’s west side, where Cushman & Wakefield has been named the building’s broker, Real Estate Weekly reported.
About 537,000 square feet of space will open up in the final quarter of this year at the Rockefeller Group’s 2.5-million-square-foot building between 48th and 49th Streets. The space will be vacated by French financial firm Société Générale, which is heading for 245 Park Avenue.
The big vacancy likely forced the Rockefeller Group to use an outside firm as a broker, ending a four-decade practice in-house leasing.
Leasing will be handled by Cushman executive vice chairman John Cefaly and Edward J. Guiltinan, vice president and director of leasing for The Rockefeller Group in New York City.
Harrison, Abromovitz & Harris designed the 50-story property, built in 1972 and also known as the McGraw-Hill building.
McGraw-Hill manages a 345-seat auditorium in the building, which serves as its headquarters.
About 500,000 square feet of new leases and renewals have been done at the building over the past two years, with information and media companies taking the most space, followed by financial services and law firms. [REW] TRD