Top 5 NYC office Leases of Q1
Yesterday news broke that the Bank of China's putting a majority of the space in 7 Bryant Park up for grabs. So far it's been a pretty big year for large chunks of Manhattan office space getting gobbled up. Here's a look at the five biggest leases of Q1.
5. Interpublic Group
Address: 5 Manhattan West
Landlord: Brookfield Properties
SF: 278k
Term: 15 years
Brokers: JLL's Scott Panzer repped Interpublic and a Cushman & Wakefield team headed up by Bruce Mosler and Josh Kuriloff repped Brookfield.
Interpublic signed a lease in the building last year but added 52k SF in January.
4. AMC Networks
Address: 11 Penn Plaza
Landlord: Vornado Realty Trust
SF: 330k
Brokers: CBRE tri-state CEO Mary Ann Tighe and vice chairman Gregory Tosko repped AMC. Vornado director of leasing Glen Weiss repped the landlord in-house.
AMC’s been in the building for over 10 years, Crain’s reported at the time of the deal, and the new lease increases its space there by 40k SF.
3. Kirkland & Ellis
Address: 601 Lexington Ave
Landlord: Boston Properties
SF: 403k
Term: 20 years
Brokers: Savills Studley’s Matthew Barlow, David Goldstein, Jason Perla, Mitchell Steir, Greg Taubin repped the law firm. Boston Properties’ Andrew Levin and John Powers repped the landlord in-house.
Kirkland & Ellis’ lease was set to expire in 2019. The firm looked at other space, including in newly developed sites, and chose to stay.
2. MetLife
Address: 200 Park Avenue (MetLife Building)
Landlord: Donald Bren’s Irvine Co. owns 97%; Tishman Speyer owns 3%.
SF: 550k
Term: 12 years
Last month the insurer announced it’ll consolidate its NYC operations in its namesake tower, nearly quadrupling the footprint it had there, and closing offices at 1095 Sixth Ave and 277 Park Ave.
1. Publicis
Address: 1675 Broadway
Landlord: Rudin Management
SF: 580k
Term: 15 years
Brokers: Byrnam Wood’s Joseph Thanhauser and Gordon Ogden repped Publicis. VP Robert Steinman repped Rudin in-house.
Publicis already had 480k SF in the building. The 100k SF addition to its footprint there will be home to its Publicis Worldwide North America division.
