SL Green Secures Lease Expansion at Manhattan Tower
An insurance broker signed a 10-year agreement with the landlord.
1350 Avenue of the Americas was renovated in 2008 and 2017. Image courtesy of CommercialEdge
Howden Tiger has renewed and expanded its lease at Manhattan’s 1350 Avenue of the Americas. The insurance broker signed a 10-year, 31,916-square-foot lease with landlord SL Green, at an asking rent of $90 per square foot, as reported by the Commercial Observer. Newmark brokered the deal for the tenant.
The firm previously occupied 13,287 square feet, to which it now added 18,629 square feet. Howden Tiger will occupy the entire 33rd and 34th floors, along with the penthouse floors of the 35-story building.
Completed in 1966, the property spans 601,330 square feet and has 25,000-square-foot floor plates. In 2022, it became subject to a $64 million loan from Wells Fargo Bank, CommercialEdge data shows. Tenants at the building include Amazon, KPMG and Citywire Americas, along with various legal, finance and accounting firms.
Located in the Plaza District, 1350 Avenue of the Americas is in the heart of Midtown Manhattan. The building is next to The Museum of Modern Art and within walking distance of Central Park and the Rockefeller Center.
Manhattan’s office market
Newmark’s Senior Managing Director Leo Paytas represented Howden Tiger in the transaction, while Executive Vice President Howard Tenenbaum and Senior Managing Director Gary Rosen worked in-house for the landlord.
As of August, Manhattan continued to lead the nation in terms of highest office rent, with an average of $69.58 per square foot, representing a 2 percent drop from last year’s figure, a recent CommercialEdge report shows.
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