May’s largest office leases in NYC

Bloomberg’s Lexington Avenue deal exceeded next nine largest combined

731 Lexington Avenue with Michael Bloomberg and Vornado’s Steven Roth (Getty, vno)
731 Lexington Avenue with Michael Bloomberg and Vornado’s Steven Roth (Getty, vno)

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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