The top 10 office leases in December
The biggest deal inked in December was Bank of America's 386K lease at 1110 Sixth
December was a very busy month in terms of office leasing activity, with the 10 biggest deals topping 1.8 million square feet, about 200,000 square feet more than the top 10 inked in November.
Check out the 10 biggest office leases from December below:
1) Bank of America, 1100 Sixth Avenue, Midtown – 386,000 square feet
The bank inked a lease for 386,000 square feet of office space at 1110 Sixth Avenue, taking over the entire building. The landlord of the property is Brookfield Property Partners. Current tenant HBO is moving to 30 Hudson Yards, clearing the way for BOA to consolidate several offices in the city. Brookfield and partner Swig Company plan to renovate the building.
2) WeWork, 500-512 Seventh Avenue, Midtown South – 250,000 square feet
The co-working giant signed a 20-plus-year lease for 250,000 square feet at 500-512 Seventh Avenue. The asking rent was reportedly $65 a square foot. Jeff Winick of Winick Realty Group represented the tenant, while Bruce Mosler of Cushman & Wakefield represented the landlords, Moinian Group, Chetrit Group and Edward J. Minskoff Equities.
3) Shiseido, 390 Madison Avenue, Midtown – 225,800 square feet
The Japanese cosmetics firm inked a 15-year lease for 225,800 square feet at in the overhauled 26-story building. L&L Holding is the landlord of the property.
4) Mastercard, 150 Fifth Avenue, Midtown South – 212,000 square feet
The credit card company inked a lease for 212,000 square feet at 150 Madison Avenue, covering all 12 floors of the building. Mitchell Barnett and Andrew Ross of Cushman & Wakefield represented the tenant. David Berkey and Andrew Wiener of L&L Holding represented the landlord in-house.
5) Omnicom Group, 200 Varick Street, Hudson Square – 200,000 square feet
The advertising giant renewed its lease for 10 more years for 200,000 square feet at . The firm will occupy seven full floors at the 12-story building. Lee Feld of Feld Real Estate represented the tenant. Jeffrey Gural, Eric Gural and Donna Vogel represented the landlord, GFP Real Estate, in-house.
6) Kirkland & Ellis, 601 Lexington Avenue, Midtown – 120,000 square feet
The law firm expanded its lease for 120,000 square feet more at . Mitchell Steir, Matthew Barlow, Greg Taubin, David Goldstein and Jason Perla of Savills Studley represented the tenant. Andy Levin of Boston Properties represented the landlord in-house, alongside a JLL team of Frank Doyle, Cynthia Wasserberger and Dave Kleiner.
7) Spaces, 424-434 West 33rd Street, Hudson Yards – 103,000 square feet
The co-working company, a subsidiary of IWG, signed a lease for 103,000 square feet at 424-434 West 33rd Street, where it will take seven floors. Jim Wenk, Brannan Moss and Kirill Azovtesv of JLL represented the tenant. Whitney Anderson of Brookfield Property Partners represented the landlord in-house, alongside a Cushman & Wakefield team of Bruce Mosler, Josh Kuriloff, Robert Lowe, Ethan Silverstein and Matthias Li.
8) United States Postal Service, 333 Johnson Avenue, Bushwick – 100,000 square feet
The postal delivery company inked a temporary lease for 100,000 square feet at to make last minute deliveries over the holiday season. The landlords of the building are Normandy Real Estate Partners, Royalton Capital and Princeton Holdings.
9) Complex Networks, 229 West 43rd Street, Midtown – 80,000 square feet
The youth-focused media company signed a sublease for 80,000 square feet of office space at , the former New York Times building. Yahoo is the lease-holder.
10) School of the Visual Arts, 380 Second Avenue, Gramercy – 80,000 square feet
The arts college renewed its lease for 80,000 square feet of office space at . SVA occupies four floors of the 10-story building. ABS Partners Real Estate is the landlord of the building.