NEW YORK CITY—The Association of International Certified Professional Accountants is relocating up the street from 1211 Ave. of the Americas to 1345 Ave. of the Americas.
Under the 15.5-year lease, AICPA will occupy 30,000 square feet, almost the entire 27th floor. They plan to move in October 2018. A source close to the deal tells GlobeSt.com that asking rents were $95 per square foot.
The association will be moving from its current location in the News Corp. Building, situated between W. 47th and W. 48th streets, to another Sixth Avenue office tower between W. 54th and W. 55th streets. AllianceBernstein had recently announced plans to move their headquarters from 1345 Ave. of the Americas in New York City to Nashville, TN. According to their 2017 annual report, AllianceBernstein leased 992,043 square feet in the Midtown skyscraper.
“We are thrilled that we could accommodate AICPA for its seven-block journey up Sixth Avenue,” says Fisher Brothers partner Winston Fisher. “In addition to its desire to remain in this premier office destination, we believe AICPA was drawn to 1345 Ave. of the Americas for its transformed lobby and entrance, reimagined outdoor plaza, and planned amenity center.”
Fisher Brothers is completing a $65 million renovation of 1345 Ave. of the Americas. Constructed in 1969, the structure was originally called the Burlington House and later referred to as the AllianceBernstein building.
With the architectural firm SOM, Fisher Brothers has updated the lobby and main entrance. The capital improvements program also redesigned the outdoor space and the elevators. Designed by the Rockwell Group, a new amenity space will offer conference areas, a fitness center, a lounge, and to-go food station at the tower's concourse level.
The 50-story, two-million square foot tower, designed by Emery Roth & Sons, is owned by Fisher Brothers and institutional investors advised by J.P. Morgan Asset Management. The building renovations are part of the last phase of Fisher Brothers' $165 million asset renewal program spanning its entire 5.5 million square-foot Midtown office portfolio.
Ken Patton, Tucker Farman and Ellen Herman of JLL represented AICPA. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel, as well as by Cynthia Wasserberger and Betsy Buckley of JLL.
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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.
