The Durst Organization Inks 66 KSF Manhattan Office Deal

The Durst Organization has signed a 66,444-square-foot, 15-year lease at 1155 Avenue of the Americas, a 790,000-square-foot office tower in Manhattan’s Plaza District. The tenant, insurance solutions company Everest Group, will move its New York City office to the building’s seventh through ninth floors, while also having access to a 6,000-square-foot outdoor terrace.

Everest Group’s commitment brought the 41-story office building to 93 percent occupancy. The landlord was represented in-house while CBRE negotiated on behalf of the tenant.

Notable tenants include Global Relay, which recently leased the top five floors of the property, American Equity Investment Life Insurance, TD Bank, Cornell University. The Durst Organization has also taken up 104,576 square feet at the property, CommercialEdge shows, and will relocate its corporate office there this spring.

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Completed in 1984, the office tower features 16 passenger elevators, floorplates between 16,000 square feet and 33,126 square feet and 11,510 square feet of retail space, according to CommercialEdge.

The landlord implemented a $130 million large-scale improvement program at the office tower, that resulted in an upgraded lobby with reception desks, newly appointed elevator cabs, a new outdoor terrace at the building’s seventh floor, and other significant architectural improvements.

The office tower at 1155 Avenue of the Americas is close to multiple bus and subway stations, as well as to Bryant Park. The location is 4 miles from the Financial District, 8 miles from Upper Manhattan, 10 miles from LaGuardia Airport and within 16 miles of John F. Kennedy International Airport.

The Durst Organization’s recent leasing deals

The Durst Organization started 2024 with a strong leasing momentum across its Manhattan office portfolio. Earlier this month, the company signed a lease expansion for 22,916 square feet at 1133 Avenue of the Americas, its 1.1 million-square-foot office tower nearby.

In March, the company inked a relocation deal for 23,437 square feet at 655 Third Ave. in Murray Hill. Clune Construction chose the 425,000-square-foot high-rise as its new New York City corporate headquarters.

At the same office property, The Durst Organization signed a 117,181-square-foot lease last August, in the largest office lease in Midtown Manhattan at the time. The tenant, New York State’s economic development and financing agency, took five full floors at the 30-story tower.