Global real estate services firm Newmark has been named exclusive leasing agent for the disposition of 230,000 square feet of Time Warner space at 1271 Avenue of the Americas.
The available space includes four full floors of high-end, built, move-in condition space, with a term through December 2017.
David A. Falk, Newmark’s president of the New York Tri-State region, and Neil Goldmacher, vice chairman, along with Peter T. Shimkin, Brian G. Goldman and Daniel M. Madison have been hired for the assignment.
“This is exceptional space, priced to lease, in a world-class location,” said Goldmacher. “Time Warner is a sublandlord with superb credit, which is important in this market. We are very excited to be working on this assignment.”
The available space features the 35th and 38th floors, which have high-end installations and dramatic panoramic views suitable for financial services companies and law firms. In addition, floors 16 and 17 also have high-end finishes, with exposed ceilings, and are ideal for creative users. Each available floor measures approximately 40,000 square feet.
“This is a unique, cost-effective opportunity for financial tenants and law firms, as well as creative-type tenants that are priced out of the Midtown South market. Firms can be up and running right away, without having to spend any capital, in a premier Midtown building,” said Falk.
Subtenants will have access to the building’s amenities, including a cafeteria and conference facility on the 2nd floor, and the high-ceiling auditorium on the 8th floor, which contains state-of-the-art audio and visual equipment. The 8th floor also features an outdoor terrace that is available to tenants in the building.
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.