Macquarie Inks 260,000-SF Renewal, Expansion

NEW YORK CITY-Sydney, Australian-based Macquarie Group has signed a 260,000-sf lease renewal and expansion at 125 W. 55th St. The financial services firm will renew its current space of 100,000 sf and expand by 160,000 sf.

Macquarie Group’s lease expansion was for an additional six floors, as well as portions of the eighth and ground floors at the 23-story tower. Cushman & Wakefield represented the firm, which employs more than 13,800 people in 25 countries. Cushman and Wakefield was unable to provide answers to GlobeSt.com queries by deadline, although rents in the building reportedly start at $90 per sf.

C&W’s Josh Kuriloff and Robert Tanzmann represented Macquarie Group in its site search and in lease negotiations with the building’s ownership, Boston Properties Inc. Andrew Levin, senior vice president of Boston Properties’ New York Region, represented the owner. Macquarie Group tells GlobeSt.com that they cannot provide any further information such as the reasoning behind expanding and renewing.