Morgan Stanley Subleases 75,000 SF at McGraw Hill Building

NEW YORK CITY-Financial services firm Société Générale has subleased 75,440 sf of space on the fifth floor of 1221 Ave. of the Americas, the McGraw Hill building, to neighbor Morgan Stanley DW Inc. Société Générale will continue to occupy multiple floors in the building, which serves as its US headquarters.

The space, which was never put on the open market for sublease, was leased for the remainder of SG’s term which runs through 2013. No financial terms of the transaction were disclosed, but asking rents in the building have been in the $60s-per-sf range. Others on the tenant roster include Sonnenshein, Nath, & Rosenthal LLP, JP Morgan/Chase Bank, McGraw-Hill Cos., Rockefeller Group and Sirius Satellite Radio.

Paul Revson, principal of the Staubach Co. of New York, represented Société Générale. Morgan Stanley was self-represented. The Staubach Co completed more than 5,200 transactions totaling 151 million sf in the company’s fiscal year ending June 30, 2004.