Bank of Tokyo unit takes sizable space at McGraw-Hill Building

Japanese firm signs up for 210,000 square feet at base of the tower

Ed Guiltinan and 1221 Sixth Avenue in Midtown
Ed Guiltinan and 1221 Sixth Avenue in Midtown

MUFG Union Bank, a subsidiary of the Japanese Tokyo-Mitsubishi Bank, signed one of the biggest new office leases of the year. The firm is taking 209,700 square feet on the bottom three floors of the Rockefeller Group’s McGraw-Hill Building in Midtown.

In July, the Japanese Tokyo-Mitsubishi Bank was in talks to take a larger space – 303,000 square feet – at the base of the building at 1221 Sixth Avenue, as previously reported.

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Omar Farooq and Fred Smith of Cushman & Wakefield represented the bank. Ed Guiltinan of the Rockefeller Group and John Cefaly of Cushman represented the landlord.

Asking rents on the 2.5 million-square-foot building’s lower floors are $78 per square foot, according to data cited by the New York Post. [NYP]Mark Maurer