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Sixth Ave Remains Top Street for Big Office Leases
Avenue of the Americas (a/k/a Sixth Avenue) was New York’s top street for large office leases in 2017, and Brookfield Office Properties was the leading owner. Those are among the topline conclusions of the second annual Avenue Report, produced by the Avenue of the Americas Association and member company Rockefeller Group.
The West Side accounted for 29 of Manhattan’s 50 largest office leases last year, with Sixth Avenue deals representing 10 of those transactions and leading the way for the second consecutive year. Largest of the Sixth Avenue deals was 21st Century Fox’s 793,687-square-foot renewal and expansion at Ivanhoe Cambridge and Callahan Capital’s 1211 Sixth.
“The largest and most sophisticated office tenants continue to demonstrate a preference for new or like-new physical assets in highly accessible, amenity rich environments,” said Daniel Moore, Rockefeller Group president and CEO-elect. “New and renovated properties throughout Manhattan have benefitted from this trend.”
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