Utility Council Signs for 12,000 SF in Midtown

NEW YORK CITY-The Northeast Power Coordinating Council has taken a 15-year lease on the entire 12,000-square-foot 10th floor of 1040 Ave. of the Americas. The space represents the largest size of the pre-built office suites that owner Skyline Developers is offering on three gut-renovated floors of the 24-story office tower.

In a release, William Cohen, EVP at Newmark Knight Frank and 1040 Sixth Ave.’s leasing agent, says the lease was signed “just a couple weeks after our successful broker event” at the repositioned property, which recently completed $15 million-plus worth of capital improvements . “During that event, brokers were able to experience firsthand the major capital improvements to the building and the three pre-built offices on the ninth floor.” The pre-built suites were made available on the ninth, 10th and 11th floors of the 256,000-square-foot property, and range in size from 3,500 to 12,000 square feet. Space can be leased individually or combined, the release states.

A Skyline source did not respond to GlobeSt.com’s calls for additional information by deadline. However, in August GlobeSt.com reported that asking rents would increase from the low $60s per square foot to the mid to upper $70s per square foot, following completion of the renovation. At that time, the property–situated on the northeastern corner of 39th Street and Sixth Avenue–was about 90% leased.