SL Green Inks Gem Leases in the Diamond District

Nixon Peabody and Comcast have joined Tower 46's office tenant roster.

By Veronica Grecu

Tower 46 - 55 W. 46th St., New York City
Tower 46 – 55 W. 46th St., New York City

New York—The iconic Tower 46 in Midtown Manhattan landed two new tenants last week. SL Green Realty announced that it inked more than 110,000 square feet of office space in the 34-story office building located at 55 W. 46th St. The asset is jointly owned by SL Green and Prudential Real Estate Investors.

Prominent law firm Nixon Peabody—which is based within walking distance on Madison Avenue—signed a 15-year lease for 66,297 square feet of office space on floors 23-25. The building’s top two floors will be occupied by broadcasting giant Comcast, which signed a 10-year lease agreement for 45,045 square feet of space.

CBRE’s Timothy Dempsey, Michael Monahan and Ramneek Rikhy negotiated the lease on behalf of Nixon Peabody, while Comcast was represented by Michael Gottlieb and David Fahey of Avison Young. A separate CBRE team consisting of Peter Turchin, James Ackerson, Sam Seiler, Cara Chayet and Christie Harle represented SL Green in both transactions.

“These transactions highlight the appeal of Tower 46’s new building construction including highly-efficient column-free floors, soaring slab heights, robust infrastructure and in-building amenities, including a fitness center and parking,” Steven Durels, executive vice president & director of leasing and real property for SL Green, said in prepared remarks.

Built in 2012 by Extell Development, the $750 million, LEED certified skyscraper was originally known as the International Gem Tower. It was designed by Skidmore, Owings and Merrill exclusively for the global diamond, gem and jewelry industry and offers nearly 700,000 square feet of office space in one of Manhattan’s hottest submarkets.

In September 2014, SL Green paid $295 million for 319,000 square feet of space on floors 22-34 in the tower. In a separate, $20 million transaction, SL Green later acquired a retail space on 46th Street, the underground parking garage at Tower 46, as well as the fitness center in the building.

Image courtesy of Yardi Matrix