May’s largest office leases in NYC

The largest office lease in the five boroughs last month was nearly 1 million square feet, more than the next nine largest combined. Three others clocked in with six-figure footprints. The tenants were a familiar mix of financial firms, tech companies and law firms.

1) Bloomberg | 731 Lexington Avenue | Plaza District | 947K sf

Michael Bloomberg’s financial media company signed a deal to stay another 11 years at its nearly 1 million-square-foot lease. The massive space houses more than half of Bloomberg’s employees. The building is owned by Alexander’s, a real estate investment trust partially owned by another REIT, Vornado Realty Trust. But the lease didn’t come in time to keep the property’s $500 million mortgage out of special servicing.

2) Bain & Company | 22 Vanderbilt Avenue | Grand Central | 235K sf

The big consulting firm inked a new lease in the Midtown building. A three-member CBRE team including John Maher and Chris Corrinet represented the tenant, while a five-member CBRE team including Paul Amrich and Neil King represented the landlord, Milstein Properties, alongside a Brookfield team including Duncan McCuaig and David Caperna.

3) Palantir Technologies | 620 Sixth Avenue | Financial District | 140K sf

The tech firm signed a new lease, moving to a direct deal with the landlord, RXR, rather than embattled co-working firm WeWork. Michael Morris of Newmark and Michael Iino of Raise Commercial Real Estate represented the tenant. 

4) Trade Desk | 1114 Sixth Avenue | Grand Central | 126K sf

The tenant inked a new lease, filling out the space left behind by Bain & Company in its move to 22 Vanderbilt listed above. A four-member Cushman & Wakefield team including Ethan Silverstein and Anthony LoPresti represented the tenant, while a four-member Brookfield Properties team including Duncan McCuaig and Mikael Nahmias represented the landlord in house.

5) Kroll | 1 World Trade Center | Financial District | 48K sf

The financial advisory firm inked a new sublease, as Condé Nast gave up another chunk of its square footage in the building. A three-member Avison Young team including Michael Gottlieb and Martin Cottingham represented the tenant, while a five-member JLL team including Peter Riguardi and Joseph Messina represented Condé Nast.

6) Sullivan & Worcester | 1251 Sixth Avenue | Midtown West | 42K sf

The law firm signed a new sublease. A four-member CBRE team including Jason Gorman and John Nugent represented the tenant, while Michael Goldman of Cresa represented the sublandlord, Lowenstein Sandler.

7) Pontera Solutions | 20 West 34th Street | Garment District | 41K sf

The financial advisory firm inked a new lease. Justin Haber and Kyle Riker of JLL represented the tenant, while Shanae Ursini of Empire State Realty Trust represented the landlord in house alongside a three-member Newmark team including Scott Klau and Erik Harris.

8) EvolutionIQ | 250 Hudson Street | Soho | 28K sf

The tenant inked a new sublease in the Soho building. A three-member Savills team including Zev Holzman and Christopher Foerch represented the tenant, while another three-member Savills team including Gabe Marans and Mitti Liebersohn represented the sublandlord, TMRW Life Sciences.

9) Studio Museum in Harlem | 121 West 125th Street | Central Harlem | 26K sf

The nonprofit art museum signed a new lease in the Central Harlem building owned by Taconic Partners.

10) YMCA Retirement Fund | 1177 Sixth Avenue | Midtown | 25K sf

The fund inked a new lease in the building between West 45th and West 46th streets. A four-member CBRE team including Laurence Briody and Lauren Crowley represented the tenant, while a six-member Cushman & Wakefield team including Bruce Mosler and Lou D’Avanzo represented the landlords, Silverstein Properties and the California State Teachers’ Retirement System.

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