1166 Avenue of the Americas
NEW YORK CITY—Edward J. Minskoff Equities, Inc. has inked three deals bringing its 1.6 million square-foot office tower at 1166 Avenue of the Americas to full occupancy. The new lease agreements cover 52,104 square feet at the newly renovated building that's situated between W. 45th and W. 46th streets. Existing tenant D.E. Shaw & Co. expanded by 6,566 square feet, and now occupies 200,655 square feet. New tenants William Blair & Company and Cross Lake Partners leased 40,240 square feet and 5,300 square feet, respectively.
A source with knowledge of the transactions tells GlobeSt.com that the asking rent was in the mid-80s per square foot.
In 2016, D.E. Shaw expanded its space renewing 195,000 square feet from the fifth through the ninth floors. The hedge fund now occupies 200,655 square feet with its latest expansion, taking on part of the third floor.
William Blair will occupy the entire 20th floor. The investment management firm is moving from 666 Fifth Ave. The tenant was represented by Silvio Petriello, Benjamin Friedland, Ramneek Rikhy and Cara Chayet of CBRE.
Cross Lake Partners will move into a portion of the 21st floor. This is the real estate private equity firm's first office in Manhattan. The tenant was represented by Ryan McKinney and Chase Gordon of Transwestern.
Under Minskoff's multi-million dollar capital improvements program, the telecommunications infrastructure was updated, and Gensler redesigned the lobby, lighting, outdoor canopies and security features. The lobby now showcases artwork including Roy Lichtenstein's “Modern Tapestry,” “Amerind Landscape” tapestries and Kaws' “Together” sculpture. “Big Big Penny” by Tom Otterness will also be on display in the near future.
JLL was the exclusive leasing agent for Minskoff, represented by Paul N. Glickman, Cynthia Wasserberger, Jonathan Fanuzzi, Diana Biasotti and Kristen Morgan. Stroock & Stroock & Lavan's Trevor Adler, Jack Bart and Debra Sapp provided Minskoff's legal representation.
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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.
