By Sarah Berman,
Avenue of the Americas Association
The Avenue of the Americas has experienced a major shift from the traditional “corporate corridor” to a true New York City neighborhood, favorable for many traditional corporate tenants to expand their businesses as well as a diverse array of new tech, media and creative uses.
In recent years, the Avenue has welcomed many new media tenants such as BBDO, Sandow Media and Grubhub/Seamless and has provided flexible layouts and modern amenities to these tenants who often seek a 24/7 “live, work, play” environment for their growing teams.
These tenants enjoy world-class retail including a new Equinox, New York Sports Club, Magnolia Bakery, STK, Butter Restaurant, Organic Avenue and a new Whole Foods to name a few.
Many of the major buildings have announced lobby renovations similar to the capital program launched at 1221 Avenue of the Americas where the lobby space and plaza are now being re-envisioned by Rockefeller Group.
The Hippodrome has also recently announced a rebranding; and unique marketing centers have been designed to showcase new and creative uses in buildings up and down the Avenue.
These initiatives demonstrate the progressive vision demonstrated by the major building owners along the Avenue, including a recent marketing campaign supported by the Avenue’s major owners entitled, “Love the Avenue” and featuring the Avenue’s restaurants, retail and culture that truly make the neighborhood a world-class business hub for any large or emerging company.
According to Augustus B. Field, IV, vice chairman, Cushman & Wakefield, “This is likely to be the best opportunity in many decades for businesses to move to Avenue of the Americas.
“All of the capital being invested, abundant amenities, and public transportation access to any point in the city make a commitment to Avenue of the Americas arguably the smartest real estate decision a CEO or business leader can make.”
The access available on the Avenue of the Americas is unparalleled — connecting to Rockefeller Center, Bryant Park, Central Park and uptown, downtown and cross-town subways within footsteps from any location on the Avenue.
Vacancy rates have dropped over the past three years. Demand for retail, access and culture is more relevant than ever before and the Avenue’s unique location combined with modern space and 24/7 amenities including hotels, restaurant, bars and destination retail is a recipe for a strong future on the Avenue.
For more information on the Avenue of the Americas Association or its members, visit www.aveoftheamericas.org or www.lovetheavenue.com