The Rockefeller Group has tapped Cushman & Wakefield as the exclusive leasing agent for 1221 Avenue of the Americas, the 2.5-million-square-foot Class A office tower anchoring the western border of Rockefeller Center between 48th and 49th Streets.
The building, one of the five largest office buildings in Manhattan – and the second largest to achieve LEED® certification – has a contiguous block of approximately 537,000 s/f, which will become available in the fourth quarter of 2013. It represents the largest contiguous block of available Class A office space in midtown.
A Cushman & Wakefield team led by executive vice chairman John Cefaly will market the available space to prospective tenants, in coordination with Edward J. Guiltinan, vice president and director of leasing for The Rockefeller Group in New York City.
“The slowdown in leasing activity from the financial services sector over the past 18 months has created some once-in-a-lifetime opportunities for professional services firms, media, technology and apparel companies to consider space in a spectacular building like 1221 Avenue of the Americas,” said Cefaly. “With its exceptional location, the property offers the highest quality construction and management, great amenities and large, efficient floor plates. We’re very pleased to be working with The Rockefeller Group to bring an availability of this kind to the market for the first time in many years and expect it to meet strong demand.”
Over the past 24 months, approximately 500,000 square feet of new leases and renewals have been completed at 1221 Avenue of the Americas, with tenants in the media and legal sectors. Through 2012, according to Cushman & Wakefield research, Manhattan office leasing demand was led by companies in the information and media industries, followed closely by financial services and law firms.
“John Cefaly and his team at Cushman & Wakefield bring outstanding capabilities to the leasing of 1221, and we are delighted to be working with them,” said Guiltinan. “We are encouraged by the strong level of interest and leasing activity 1221 is experiencing, and we anticipate that the addition of Cushman & Wakefield will accelerate the successful leasing of the office space soon to be available in the building.”
Completed in 1972 as the headquarters for McGraw-Hill, the building was designed as one of four buildings that constituted the modern expansion of Rockefeller Center on the west side of Sixth Avenue. Together the buildings were envisioned by the architects Harrison, Abromovitz & Harris to provide expansive outdoor spaces through the use of large setbacks from Sixth Avenue, as well as privately owned parks behind each building – the precursors to the new mid-block avenue established in 2012 by the New York City Department of Transportation that runs between Sixth and Seventh Avenue in the 40s and 50s. In addition, the buildings are all interconnected through a concourse level, which provides direct access to the subway system and the shops at Rockefeller Center.
Rising 50 stories and extending more than half way to Seventh Avenue, 1221 Avenue of the Americas is visually distinguished from its neighbors by an open air concourse level plaza, bordered by two raised tree beds with public seating.
Tenants in the building include prominent media, law and financial services firms. On-site amenities include access to the B, D, F and M subway lines, as well as the popular steak and seafood restaurants Del Frisco’s and Oceana, 48 Lounge, Chipotle, and Café Metro. New York Sports Club occupies lower-level space, and a 345-seat auditorium managed by McGraw-Hill offers tenants convenient access to a professional conference facility.
Centrally located in Midtown, 1221 Avenue of the Americas is within walking distance of Grand Central Station, Penn Station, the Port Authority Bus Terminal and more than a dozen subway lines. The area’s amenities, within a five-block radius, include 10 parks, 10 museums, 65 hotels, 115 theaters and more than 400 restaurants and 2,000 retail stores.