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Deals & Dealmakers

Tax giant expands to 55,000 s/f at 1177 Sixth Ave.

DTZ represented long-time client WTAS in a 12,000 s/f expansion at 1177 Avenue of the Americas in Manhattan.

1177 Avenue of the Americas

WTAS is one of the largest independent tax firms in the world. Faced with running out of room at their current premises, WTAS engaged a DTZ team comprised of executive vice president Dirk Hrobsky and vice president John Pavone in New York and executive vice president Steve Schneider in Chicago to explore options and available opportunities in Midtown.

WTAS had occupied all of the 18th floor and part of the 19th floor totalling 38,000 s/f but needed to expand its presence.

DTZ was able to create a solution in which WTAS was able to remain at their current location, by approaching their current sub-landlord to explore if any excess space could be available for WTAS. The DTZ team was successful in negotiating an expansion for the remainder of the 19th floor.

John Pavone commented on the benefits of keeping the NYC operation all in one place: “The building and location are great.

“Not only was WTAS able to ensure business continuity during their busy season, by avoiding the interruptions a partial (or full) relocation and new construction would cause, but we were also able to create an off-market, opportunistic transaction that required very little capital outlay from the client.

“The operation will remain on two contiguous floors; with the additional 19th floor space, the client now occupies approximately 50,000 s/f. The space was built-out to an above standard installation and WTAS also received an ample work allowance to retrofit the space for their specific needs.”

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