Skyline Developers announced two new leases at 1040 Avenue of the Americas, its signature Art Deco Class A office building.
Up, also known as Up TV and originally Gospel Music Channel, an American satellite and cable television channel founded initially to have a focus on gospel music, and Alpha4x Asset Management LLC have signed new leases in the 24-story office building, which is centrally located in Midtown West’s Bryant Park Business District.
“1040 Avenue of the Americas is a Class A office building that continues to attract both new and growing tenants to its premier roster,” said Orin Wilf, president of Skyline Developers.
“Our company has established this building as one of the signature office buildings around Bryant Park and a destination for tenants looking for both pre-built and custom-built office space.”
Focusing on Christian rock and pop, as well as original content, Up, which rebranded on June 1, signed a 10-year lease for 6,842 s/f of office space on the 18th floor. Scheduled for October occupancy, the asking rent for the space was $51 per square foot.
Up will be joining its sister company, InterMedia Outdoors, in the building. The outdoor sports-oriented media group signed a lease last year for most of the 12th floor.
In both transactions, William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, while Brad Needleman and Jared Silverman of CBRE represented the tenants.
Alpha4x Asset Management LLC is taking 2,134 s/f on the 15th floor for general, executive and administrative offices.
The newly formed firm is taking an existing prebuilt space, offering immediate occupancy. The asking price for the space was $51 s/f for a five-year lease.
Cohen and Kass again represented the landlord, while William W. Carr of Williamson, Picket, Gross, Inc. represented the tenant.
“These two transactions and the overall success at 1040 Avenue of Americas reflect the strength in the office market around Bryant Park,” added Kass, a senior managing director of Newmark Grubb Knight Frank.
1040 Avenue of the Americas has 6,900 s/f available on the 24th floor.