Commercial real estate services firm Cushman & Wakefield has signed a 15-year deal to lease 156,282 sq. ft. at 1290 Avenue of the Americas, on the eastern block front between 51st and 52nd Streets in Midtown Manhattan. Cushman will relocate its world headquarters and more than 500 employees next door to the Class-A tower, which is owned by Vornado Realty Trust, an office real estate investment trust.
Cushman & Wakefield Vice Chairman Franklin Speyer and Senior Director Amy Fox led the firm’s site search and lease negotiations with Vornado, which was represented in-house by Glen Weiss and Tom Costanzo.
“We look forward to our move to 1290 Avenue of the Americas, and to the creation of a more efficient and collaborative workplace,” says Bruce Mosler, president and CEO of Cushman & Wakefield. “The building’s large floor plates will allow for an open environment, fostering communication among our employees and various service lines.”
The firm will occupy the entire seventh floor, along with portions of the eighth and ninth floors. Cushman & Wakefield currently occupies approximately 155,000 square feet on nine floors at 51 West 52nd Street. The firm’s world headquarters includes top executives as well as employees from brokerage services, capital markets, client solutions, consulting and various corporate departments.
Totaling approximately 2 million sq. ft., 1290 Avenue of the Americas was designed by architect Emery Roth & Sons, one of the oldest American architectural companies. The class-A building’s 43 floors include 1.8 million sq. ft. of office space, with major tenants including AXA Equitable Life Insurance Co., Microsoft, Morrison & Foerster and Bryan Cave.