NEW YORK CITY—Virgo Business Centers, which rents furnished shared office spaces in Manhattan, has signed a lease for an increased 42,054 square feet at 1345 Avenue of the Americas. Virgo now occupies the entire 33rd floor totaling 82,845 square feet in the Midtown West building. The asking rent was $79 per square foot. The new lease begins in June 2018 and runs through Dec. 2024.
The approximately 1.9 million square-foot, 50-floor office tower located between W. 54th and W. 55th streets, was originally constructed in 1969. In Dec. 2014, JP Morgan Asset Management bought a 49% interest in the building for $2 billion. The sellers, a joint venture of Rockpoint Group and Fisher Brothers, retained interest in the building. The property was purchased with plans for renovations. This ownership history and data was obtained from Real Capital Analytics.
CBRE's Anthony Dattoma represented the tenant in the transaction, while Jared Horowitz, Neil Goldmacher and Brian Goldman of Newmark Knight Frank represented the sublandlord whose identity has not been disclosed. A CBRE spokesperson tells GlobeSt.com that other building tenants include Accenture, Ion Trading, General Motors and Fortress Investment Group.
Virgo offers 200,000 square feet of fully serviced office space in New York City, including the entire second floor of 1345 Avenue of the Americas. Other locations where it provides shared spaces include 575 Lexington Ave., the Chanin Building, the Empire State Building and 14 Penn Plaza.
The offices are leased on a month-to-month basis, and conferencing facilities can be rented by the hour. They are available for immediate occupancy and have flexible lease terms.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
