The space became available after PricewaterhouseCoopers agreed to a long-term sublease of 800,000 sf at 300 Madison Ave. The firm is consolidating its national leadership and New York practices in the new building, which is expected to be named the "PricewaterhouseCoopers Center."
According to Newmark's Scott Klau, who represented PwC along with Newmark principal Neil Goldmacher and Lou Varsames of Tampa-based CLW Real Estate Services Group, the firm still had six years remaining on its lease at 1301 Ave. of the Americas. "It (the Lehman deal) was a complex transaction with three simultaneous deals," he tells GlobeSt.com, adding that Newmark and CLW have filled approximately 700,000 sf of PwC space in Manhattan this year.
In October of 2003, Dewey Ballantine renewed and expanded into nearly 500,000 sf of office space for its headquarters the 45-story site. Dewey Ballantine occupies more than 22% or approximately 405,000 sf of the 1.8 million-sf building's office space. The 88,000-sf expansion is expected to be completed by 2006.
The building's distinctive architecture and signature entrance and plaza feature exterior sculptures, reflecting pools, planters, and seating. The two-story "jewel box" glass enclosed lobby is enhanced by rich mahogany walls and marble and granite floors. Amenities include a formal restaurant, a men's clothing store and a sundry shop. Other tenants include Wasserstein Perella Group Holdings and Credit Lyonnais.
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