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1330 AVENUE OF THE AMERICAS
ADDRESS 1330 6th Avenue
New York, NY 10019
KEY FEATURES 1330 AoA is one of the few boutique office buildings along Sixth Avenue with floorplates ranging from 10,400 to 16,400 square feet, which appeal to an under-supplied but active segment of the market. Sub- 20,000 square foot tenants have driven 75% of historical Midtown leasing demand but only 11% of Sixth Avenue buildings feature floorplates under 20,000 square feet. Approximately one third of the NRA at the Property has also been pre-built, which appeals to boutique tenants and reduces re-leasing costs through flexible layouts and high-quality finishes. The dynamic has stimulated leasing velocity throughout the pandemic, with over 120K SF of leasing over the past 24 months and provides an opportunity for a new owner to build upon the proven and successful prebuild program. 1330 AoA has a diversified tenant roster comprised of companies from the FIRE, TAMI, and Medical sectors, with no single user occupying over 11% of the NRA. Despite being a boutique building, the total AUM of the tenancy is $2.3 trillion, which is equivalent to the total of Goldman Sachs. The Property also features amenities including a ~2,000 SF conference center and a three-story, ~70,000 square foot parking garage leased to Icon Parking at a below market rate. In addition to the parking, 1330 AoA provides embedded upside with the below-market retail lease to Apple Bank and building signage, which is only available at three properties along Avenue of the Americas. 1330 AoA is ideally situated on Midtown’s Avenue of the Americas corridor in the Plaza District, surrounded by globally recognized cultural institutions such as Rockefeller Center, Radio City Music Hall, the MoMa, Carnegie Hall, and Central Park. With convenient access to multiple modes of transportation along with ample restaurant, entertainment, and retail amenities, the area has been the long-time home of major corporations including Major League Baseball, UBS, 21st Century Fox, and Marsh & McLennan.
GLA 534,203
PROMINENT TENANTS Apple Bank, Knoll, Silvercrest, Robert Wood Johnson Foundation, CAM Capital
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1330 AVENUE OF THE AMERICAS IN THE NEWS
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Investors including Josh Rahmani and Ebi Khalili’s Empire Capital have closed on their $320 million purchase of the 40-story office tower at 1330 Sixth Avenue from RXR Realty and Blackstone — by far t... read more ›
CATEGORY: ACQUISITIONSREGION: NORTHEASTPROPERTY: 1330 AVENUE OF THE AMERICASPOSTED ON: NOVEMBER, 18 2022
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