C&W currently occupies approximately 155,000 sf on nine floors at 51 W. 52nd St. The firm will occupy the entire seventh floor, along with portions of the eighth and ninth floors in the fourth quarter of 2009, C&W tells GlobeSt.com. C&W sources could not give out aggregate lease values, taking rents, or asking rents of 1290 Avenue of the Americas at this time.
According to CB Richard Ellis' research, asking rent for the building is $95.79 per sf and the submarket average asking rent is $102.42.
Cushman & Wakefield vice chairman Franklin Speyer and senior director Amy Fox led the firm's site search and lease negotiations with the landlord of 1290 Avenue of the Americas, Vornado Realty Trust. Vornado was represented in-house by Glen Weiss and Tom Costanzo. Costanzo did not return GlobeSt.com queries by deadline.
More than 500 employees are located in Cushman & Wakefield's World Headquarters. "We look forward to our move to 1290 Avenue of the Americas, and to the creation of a more efficient and collaborative workplace," says Bruce Mosler, president and CEO of C&W, in a prepared statement. "The building's large floor plates will allow for an open environment, fostering communication among our employees and various service lines."
Totaling approximately two million sf, 1290 Avenue of the Americas was built by architect Emery Roth & Sons. The class-A building's 43 floors include 1.8 million sf of office space, with major tenants, including AXA Equitable Life Insurance Co., Microsoft, Morrison & Foerster and Bryan Cave.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
