Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The D.E. Shaw Group is taking 112,000 sf of office space at 1166 Avenue of the Americas., according to market sources. The global investment and technology firm currently occupies 140,000 sf at Tower 45, on West 45 St., and will be expanding to the new location due to the company’s growth.

D.E. Shaw declined to comment on the transaction.

GlobeSt.com sources name Tim Dempsey and Roger Griswold of CB Richard Ellis as representing D.E. Shaw in the transaction. Tim Gibson of Cushman & Wakefield represented the landlord.

Terms of the deal have yet to be disclosed, but according to Trammell Crow Co.’s third quarter report the average asking rental rate in the area is $70.41 per sf. The area also has a vacancy of less than 4%.

1166 Ave. of the Americas is a 1.7-million-sf class A office building between 45 and 46 streets. Marsh & McLennan Cos., a global professional services firm, owns the building that houses its world headquarters. 12 months ago Marsh & McLennan obtained a $475-million mortgage financing for the building, as reported at GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.