Marcus Rayner, Jane Roundell and Giles Wrench of CRESA Partners/NY represented Yahoo in the lease termination while Bruce Crawford represented TrizecHahn. Arthur Lerner, Michael Ippolito Dan Katcher of Newmark represented TransitCenter Inc. in the new lease.
While details of the TransitCenter lease were not released, Rayner says in a statement, "This is an example of the trend of building owners moving to recapture space since Sept. 11 to secure long-term occupancy of their buildings." Asking prices for sublet space on the 11th floor of the building are currently $37.50 per sf.
TrizecHahn gave TransitCenter a direct lease for the space, which is fully furnished and wired. Yahoo continues to occupy the ninth floor and part of the 17th floor of the building.
Built in 1958, the 626,416-sf tower at 41st St. and Avenue of the Americas has floorplates ranging from 6,875 sf to 31,000 sf. The building is 34 stories and is situated on a 27,200-sf lot.
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