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Deals & Dealmakers

Hedge fund renews at 1166 Ave. of Americas

Investment and technology fund giant D. E. Shaw & Co., L.P. has renewed its 195,375 s/f lease at Minskoff Equities 1166 Avenue of the Americas.

Minskoff was represented by the JLL team of Paul N. Glickman, vice chairman; Cynthia Wasserberger, managing director; Jonathan Fanuzzi, executive vice president; and Diana Biasotti, senior vice president.

The group worked with Jeffrey Sussman, executive vice president, at Minskoff. D. E. Shaw & Co., L.P. was represented by Timothy Dempsey, vice chairman, Roger P. Griswold, Jr., senior vice president, and Munish Viralam, first vice president, of CBRE Inc.

PAUL GLICKMAN
PAUL GLICKMAN

“1166 Avenue of the Americas is a premiere asset in an ideal location,” said Glickman. “Ownership’s repositioning effort establishes the property among the top offerings on the Sixth Avenue corridor with convenient proximity to Bryant Park, Rockefeller Center and to all three major commuting hubs — Grand Central Terminal, Times Square / Port Authority and Penn Station.”

Minskoff engaged JLL as exclusive leasing agent to lead a repositioning and leasing effort for the Class A, 1.6 million-square-foot office building located between West 45th Street and West 46th Street.

Gensler was retained to re-design the lobby, lighting, outdoor canopies and security features as part of a multi million-dollar capital improvement program at the office tower.

The lobby is expected to be completed in the fourth quarter of 2016, and will showcase signature pieces of art, including Roy Lichtenstein’s Modern and Amerind tapestries. These new features are slated for completion in mid-2016.
Minskoff also has enhanced the office property’s telecommunications infrastructure to be listed as Wired Certified Gold with WiredScore.

1166 Avenue of the Americas, a 44-story, center-core building has floor plates of 40,000 s/f. The building was designed by Skidmore, Owings & Merrill and constructed in 1974.
JLL is leasing and marketing approximately 160,000 ss/f of space at the building, including the entire 3rd and 4th floors (comprised of 39,075 s/f each) and the entire 20th floor and 21st floor (comprised of 40,240 s/f each). Two of the floors have been gutted and a marketing center is near completion on the 20th floor.

An additional large block of space, 241,000 s/f will become available at 1166 Avenue of the Americas in 2021.
JLL and Minskoff have collaborated on two other high-profile New York office buildings — 51 Astor Place and 101 Avenue of the Americas — both of which are now 100 percent leased.

Sprint Communications recently signed a 10-year lease renewal for 39,075 s/f and will continue to occupy the entire second floor at 1166 Avenue of the Americas.

The telecommunications company’s space at the office tower includes a Sprint Executive Briefing Center which allows Sprint to offer tailored briefings and interactive discussions to prospective customers to demonstrate their products.

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