Publisher Penguin Random House has just renewed its lease at 1745 Broadway.
Penguin Random House, which publishes titles that include the works of 70 Nobel Prize laureates and hundreds of famous authors, signed a 15-year extension for 603,650 s/f of space in the building. The company’s new lease, which extends to June 2033, covers floors two to 19 and floors 21 to 23. The company’s previous lease at the property was scheduled to expire in 2018.
“We and our partners at Ivanhoe Cambridge are very pleased to have a high quality tenant like Penguin Random House continue to anchor this premier asset,” said Steven Durels, the executive vice president and director of real estate at SL Green. “Leasing velocity in Manhattan remains robust with strong demand from legal, TAMI, financial service and healthcare tenants.”
The building is located between West 55th and 56th in Midtown. SL Green and Ivanhoé Cambridge owns the office building section of the tower, which covers floors two to 25. Last year, the two companies tried to sell their 685,000 s/f share in the building for more than $700 million.
Penguin Random House previously extended its lease in the building in 2012. The company signed a 361,044 s/f lease, which was for floors two to 13.
Richard Bernstein of Cushman & Wakefield represented Penguin Random House. Meanwhile, SL Green represented the landlord in-house.