NEW YORK CITY-Sydney, Australian-based Macquarie Group has signed a 260,000-sf lease renewal and expansion at 125 W. 55th St. The financial services firm will renew its current space of 100,000 sf and expand by 160,000 sf.

Macquarie Group’s lease expansion was for an additional six floors, as well as portions of the eighth and ground floors at the 23-story tower. Cushman & Wakefield represented the firm, which employs more than 13,800 people in 25 countries. Cushman and Wakefield was unable to provide answers to queries by deadline, although rents in the building reportedly start at $90 per sf.

C&W’s Josh Kuriloff and Robert Tanzmann represented Macquarie Group in its site search and in lease negotiations with the building’s ownership, Boston Properties Inc. Andrew Levin, senior vice president of Boston Properties’ New York Region, represented the owner. Macquarie Group tells that they cannot provide any further information such as the reasoning behind expanding and renewing.

Built in 1989 by architect Edward Larrabee Barnes & Associates, 125 W. 55th St. totals approximately 590,000 sf. In addition to Macquarie Group, major office tenants include Katz Media Group and Air France.

A joint venture in which Boston Properties owns a majority interest acquired the building for $444 million in August, 2008 from an affiliate of Macklowe Properties, as reported. That purchase price included the assumption of an aggregate principal amount of $263.5 million of secured and mezzanine loans having a weighted-average fixed interest rate of 6.31% per annum, all of which mature in March 2010.

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