In August’s largest office leases, 450 Lex deal stands out
Only two deals cracked 100K sf, but one was a biggie
There were some notable deals NYC office leasing last month, but one cast a particularly long shadow — almost six times that of the next largest.
1) Davis Polk & Wardwell | 450 Lexington Avenue | Grand Central | 700K sf
In far and away the largest office lease of last month, the law firm renewed and expanded its lease, bringing its footprint in the building up to 700,000 square feet. The renewal adds 25 years and 30,000 square feet for the international law firm. A three-member CBRE team including Lewis Miller and Andrew Sussman represented the tenant while William Elder and Andrew Ackerman of Scott Rechler’s RXR represented the landlord in-house.
2) Empire State Development | 655 Third Avenue | Murray Hill | 117K sf
The economic development arm of New York state signed a 20-year lease to relocate from nearby 633 Third Avenue. Moshe Sukenik and Brian Cohen of Newmark represented the tenant alongside Joan Brothers of Manhattan Boutique Real Estate while a three-member Durst Organization team including Tom Bow and Ashlea Aaron represented the landlord in-house.
3) Municipal Credit Union | 22 Cortlandt Street | Financial District | 94K sf
The credit union signed a deal to renew its long-held FiDi space until 2040. A six-member CBRE team including Andrew Sussman and Tim Freydberg represented the tenant while Barrett Stern of Newmark represented the landlords, Mayore Estates and 80 Lafayette Associates.
4) Marshall Wace | 66 Hudson Boulevard | Hudson Yards | 79K sf
The global asset manager signed a new lease in The Spiral. Andrew Sachs and William Levitsky of Newmark represented the tenant while Greg Conen and Sam Brodsky of Tishman Speyer represented the landlord in-house.
5) Mousse Partners | 9 West 57th Street | Plaza District | 33K sf
The investment firm inked a lease, doubling its footprint and switching floors inside of the Plaza District building. Howard Fiddle of CBRE represented the landlord, Soloviev Group.
6) NFP | 200 Park Avenue | Grand Central | 30K sf
The insurance broker signed a lease to move its New York City headquarters into the MetLife Building. A four-member CBRE team including Mark Ravesloot and Mike Monahan represented the tenant while Megan Sheehan and Sam Brodsky of Tishman Speyer represented the landlords, Tishman Speyer and Irvine Company.
7) Vera Wang | 500 Park Avenue | Plaza District | 27K sf
The bridal wear designer inked a lease for a new showroom. A four-member Savills team including Jeffrey Peck and Daniel Horowitz represented the tenant while A three-member JLL team including Cynthia Wasserberger and Frank Doyle represented the landlord, Morgan Stanley Prime Property Fund.
8) Sprinklr | 441 Ninth Avenue | Hudson Yards | 24K sf
The tenant signed a lease. Nick Farmakis and David Goldstein of Savills represented the tenant while a four-member CBRE team including Evan Haskell and Ben Joseph represented the landlord, CommonWealth Partners.
9) BlueCrest Capital Management | 450 Park Avenue | Plaza District | 22K sf
The hedge fund inked a 15-year lease. Daniel Posy and Joseph Messina of JLL represented the tenant while a four-member CBRE team including Paul Amrich and Neil King represented the landlord, SL Green Realty.
10) PointState Capital | 9 West 57th Street | Plaza District | 20K sf
The hedge fund signed a lease. Howard Fiddle of CBRE represented the landlord, Soloviev Group, whose top executive, Stefan Soloviev, has described the building as a “cash cow.”