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CIT Renews Headquarters Lease 3 Years Early

Middle-market commercial lender CIT Group has opted for an early renewal of its 150,000-square-foot headquarters at Tishman Speyer’s 11. W. 42nd St. The lease was due to expire in 2021 but has been renewed for 15 more years.

“CIT is pleased to have committed to our Midtown, New York City location for the long term,” a company spokeswoman said. “This is our headquarters and a key center for our commercial businesses.”

Chris Mongeluzo, Eric Zemachson and Noel Flagg negotiated on CIT’s behalf, the Real Deal reported. Tishman Speyer’s Samantha Augarten and Gregory Conen represented building ownership.

The 955,000-square-foot office tower was completed in 1927. A unique feature is its H-shaped layout which allows for eight corner offices per floor.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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