NEW YORK – Edward J. Minskoff Equities and JLL announced today that the FDIC has leased 147,543 square feet of office space at 1166 Avenue of the Americas, the 44-story skyscraper that occupies the entire blockfront of the Avenue of the Americas between 45th and 46th streets in Midtown Manhattan.
The transaction follows the recent completion of a $235-million refinancing of the property by Wells Fargo, which held the previous loan on the building.
FDIC will relocate to 1166 Avenue of the Americas from the Empire State Building in a 10-year lease, occupying the partial seventh floor and the full eighth, ninth and 10th floors of the property. Asking rents for the building begin in the $80s-per-square-foot range.
EJME, a developer, owner and manager of institutional quality real estate nationally, owns condominium interests which comprise floors two through 21 of 1166 Avenue of the Americas, which was designed by Skidmore, Owings and Merrill and built in 1975.
JLL leasing professionals Paul N. Glickman, Vice Chairman; Diana L. Biasotti, Senior Vice President; Cynthia Wasserberger, Vice Chairman, and Christine Colley, Executive Managing Director, represented EJME
in the 10-year leasing transaction. The tenant was represented by Connor Faught, Executive Vice President, and Sheena Gohil, Vice Chair, with Colliers. Jeffrey Sussman, Executive Vice President, and Matt Pynn, Vice President, represented EJME in-house.
“1166 Avenue of the Americas is a premier Midtown asset that provides a superior tenant experience beginning in the Gensler-redesigned lobby, which houses an extensive art collection, and continuing throughout the building with a host of market-leading amenities,” said Edward J. Minskoff.
“We are pleased to welcome the FDIC to 1166 Avenue of the Americas where institutional ownership continues to prioritize the tenant experience,” said JLL’s Glickman, noting that the landlord is creating a new fitness facility and lounge adjacent to the building’s brand new, 12,000-square-foot conference center.
The JLL leasing team also recently completed a 40,240-square-foot office lease at 1166 Avenue of the Americas with commercial insurance writer CNA Insurance (CNA). CNA signed a 15-year lease to relocate from 125 Broad St. in Q4 2024 to occupy the entire 11th floor of the property. CNA was represented by JLL Executive Managing Director Michael Berg, Managing Director Jeff Szczapa and Associate Finley Burger.
The ceremony was presided over by Westchester County Clerk Timothy Idoni, and Jenkins’ oath was administered by New York State Supreme Court Justice Anne E. Minihan, 9th Judicial District, in a ceremony at the Michaelian Office Building in White Plains.
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