The firm is entering a 15-year lease for four-and-a-half floors at the 44-story tower, which Vornado Realty Trust purchased last year, say published reports. Reports say the firm plans to relocate from its current location at 30 Rockefeller Plaza in Q3 2009.
Leases of 100,000 sf or more have become infrequent in the current market, although last month the Macquarie Group more than doubled its space at Boston Properties' 125 W. 55th St. The Australian financial services company renewed its existing space of 100,000 sf and added 160,000 sf more.
Earlier this year, 1290 Sixth Ave. was itself the scene of a deal for more than 100,000 sf. In May, GlobeSt.com reported that Cushman & Wakefield will relocate its world headquarters to the Sixth Avenue tower, signing a 15-year lease for 156,282 sf. The real estate services giant will move around the corner from its current world headquarters at 51 W. 52d St.
Fitzpatrick was represented by Mark Weiss and Moshe Sukenik of Newmark Knight Frank, who were not available for comment. Built in 1963, 1290 Sixth contains approximately 1.8 million sf of office space, according to Vornado's website. The tower's leasing agent, Tom Costanzo of Vornado, also represented the landlord in-house in the earlier C&W deal.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
