[ad_1]
Silverstein Properties Never lose a tenant YMCA Retirement Fund moving from 120 Broadway to 1177 Avenue of the Americas.
The foundation has signed a 13-year, 24,640-square-foot lease on the 16th floor of the Midtown building, according to the landlord, but it’s unclear what the building’s asking rent is or whether it’s an expansion for the tenant. The average asking rent in Midtown for the fourth quarter of 2023 was $74.09 per square foot. according to transwestern.
YMCA Retirement Fund has been a Silverstein tenant since 1999 and moved to 120 Broadway in 2013.
“Whether in Midtown or Lower Manhattan, our well-appointed buildings in dynamic neighborhoods offer access to transportation and New York’s best restaurants, tourist attractions, and cultural destinations. We continue to attract a diverse range of tenants looking for a modern and comfortable office experience.” gordon huffSilverstein’s vice president of leasing said in a statement.
bruce mosler, Lou Davanzo, ethan silverstein, Anthony Lopresti, Peter Kerans, caroline collins of Cushman & Wakefield (CWK) Represented Silverstein in the deal. Lawrence Bridie, lauren crowley, courtney hewson and Eric sears of CBRE (CBRE) Negotiated on behalf of the YMCA Retirement Fund.
C&W did not respond to requests for comment, while CBRE declined.
Another recent transaction in this building was mill point capital The company renewed its lease and doubled the space to 23,289 square feet. In other words, the area will cover the entire 44th floor.
The period is six years, and the private equity firm first moved into the building in 2019.
Eric Harris of Newmark (NMRK) The company represented Mill Point Capital in the negotiations, but declined to comment.
Mark Hallum can be contacted at: mhallum@commercialobserver.com.
[ad_2]
Source link
