Hewlett Packard Signs On to 461 Fifth Ave.
SL Green inked a 10-year deal, leasing 18,000 SF at a Midtown office building that’s close to Bryant Park.
NEW YORK CITY—If Tuesday’s Child is full of grace, on Tuesday SL Green Realty Corp. was graced announcing two substantial Midtown deals. Hewlett Packard Enterprise signed a 10-year, 17,945-square-foot-lease for the entire eighth and 10th floors at 461 Fifth Ave.
Additional lease terms were not disclosed. But a source with knowledge of the deal tells GlobeSt.com that the asking rent was $90 per square foot, and that the company plans to move into its new location in the second quarter of 2019.
Hewlett Packard is relocating from 556 W. 22nd St. from the Far West Side of Chelsea to the Midtown East tower that’s between E. 42nd and E. 43rd streets.
“We’re delighted to welcome Hewlett Packard to 461 Fifth Avenue,” says Steven Durels, EVP, director of leasing and real property for SL Green. “Our recently completed capital improvement program including new lobby, plaza, entrance, elevator cabs and bathrooms has led to significant leasing accomplishments.”
The 200,000-square-foot, 26-story tower was originally constructed in 1988, according to Real Capital Analytics. The online real estate intelligence company also notes that SL Green purchased the building in 2003 for $62.3 million from Mitsui Fudosan America.
Overlooking Bryant Park and close to Grand Central Terminal, the building is LEED Gold-certified, and has column-free floorplates with oversized windows and tenant-controlled HVAC. Other tenants include Shenkman Capital Management, Everest Reinsurance Company and Foros Advisors.
All brokers involved in this lease were from CBRE. James Ackerson and James Einstein represented Hewlett Packard. Silvio Petriello, Ben Friedland, Sam Seiler and Zak Snide represented the landlord.
In addition to this deal, yesterday SL Green announced leasing 75,353 square feet at 220 E. 42nd St. in a 30-year office condominium conveyance to the Young Adult Institute.
As of December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet. This includes ownership interests in 27.8 million square feet of Manhattan buildings and 18.2 million square feet of buildings securing debt and preferred equity investments.