Mitsui Fudosan America Closes 2 Mid-Manhattan Leases
- Mar 24, 2017
New York—The U.S. arm of Mitsui Fudosan, a leading Japanese real estate firm, closed two leases totaling roughly 73,600 square feet at 1251 Avenue of the Americas, a 54-story high-rise in Manhattan. The two new tenants are Berenberg Capital Markets, a subsidiary of German bank Berenberg, and global law firm McGuireWoods.
Berenberg signed a 12-year lease for the entirety of the 53rd floor, or approximately 31,700 square feet. JLL’s Mitchell Konsker, Alexander Chudnoff and Benjamin Bass represented the tenant. McGuireWoods signed on for 15 years and will occupy the 20th floor, which adds up to 41,900 square feet. NGKF represented the law firm, with Chris Mongeluzo and Brian Cohen leading the efforts. David Falk, Peter Shimkin, Eric Cagner, Romel Canete and Nick Berger of NGKF represented Mitsui Fudosan on both leases.
Located steps away from Radio City Music Hall and a couple of blocks from Times Square and The Museum of Modern Art, the skyscraper is situated at the western edge of Rockefeller Center, close to four subway stations. The Rockefeller Group and Exxon originally developed the property in 1970 to serve as the latter’s headquarters. Previously known as the Exxon Building, the 2.4 million-square-foot skyscraper includes 21,637 square feet of ground-floor retail.
The current owner bought the tower in 1986. The LEED Silver-certified tower was renovated in 1993 and has a 30 percent load factor. The property also includes 55 separately parceled and privately owned office condominiums, Yardi Matrix data shows. Hines has been the property manager for the building since 2011.
Offering floor plates between 30,700 and 61,200 square feet, 1251 Avenue of the Americas has a diverse tenant mix. The roster includes the owner, as well as Natixis Capital Markets, Nippon Steel, Rothschild North America Inc., White Oak Global Advisors, Chase Bank, and law firms DLA Piper and Lowenstein Sandler, among others.
Image courtesy of Yardi Matrix