Posted Jul 6, 2025, 5:05 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,199
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While there are firms ready to jump into the newly built towers, some of the older towers in prime locations and investments in upgrades manage to hold on. Still, I expect Related and the other developers of proposed office towers won't have trouble in the coming years grabbing tenants. Too many to go around, so little being built.
https://therealdeal.com/new-york/202...-office-lease/
Paul Weiss expands on massive Midtown office lease
Sublease of 85K sf brings total space at 1345 Sixth to 850K sf
Jul 3, 2025
Quote:
Paul, Weiss, Rifkind, Wharton & Garrison signed one of the country’s largest office leases in 2023, taking 765,000 square feet at Fisher Brothers’ 1345 Sixth Avenue in Midtown Manhattan.
The law firm has added to that peak deal, signing a sublease for an additional 85,000 square feet at the property, the Commercial Observer reported. The expansion brings the law firm’s space at the property to a whopping 850,000 square feet.
Prior to that lease, Fisher invested $120 million into the property for capital improvements, updating the exterior and adding an amenity floor and a public art installation. Ownership remains on the hook for $200 million in tenant improvements, largely dedicated to Paul Weiss; the law firm also secured $150 million in rent concessions.
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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