Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Thursday, September 27, 2007

Large Leases Signed in Manhattan

Financial service companies have been signing large leases in Manhattan, including several with rents approaching $200/sf.

Recent deals include Carlyle Group's 23,400 sf expansion at 520 Madison Ave., with rents that start at $180/sf, and Royal Bank of Scotland's lease for 70,000 sf at 1095 Sixth Ave., which starts at $140/sf and ramps up to $160/sf by the end of its 15-year term.

Also, AllianceBernstein has agreed to lease 151,500 sf at 1345 Sixth Ave., National Financial Advisors is moving into about 100,000 sf at 340 Madison Ave. and PricewaterhouseCoopers has a lease pending for 200,000 sf at 100 Park Ave.


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