Virgo Business Centers Doubling Footprint at 1345 Avenue of the Americas
By Rey Mashayekhi February 15, 2018 6:03 pm
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Shared office space provider Virgo Business Centers is doubling its presence at 1345 Avenue of the Americas after inking a sublease for more than 42,000 square feet at the Midtown office tower, Commercial Observer has learned.
Virgo has agreed to take the entire 33rd floor, comprising 42,054 square feet, at the 50-story, 2-million-square-foot building between West 54th and West 55th Streets, according to sources with knowledge of the transaction. The deal runs through the end of 2024, with Virgo expected to begin occupying the space this coming June.
Asking rent in the sublease was $79 per square foot, sources said, with Virgo represented by CBRE (CBRE)’s Anthony Dattoma. A CBRE spokeswoman confirmed the deal but declined to identify the sublandlord; however, CoStar Group data indicates that the 33rd-floor space belongs to investment management firm AllianceBernstein, which anchors 1345 Avenue of the Americas with roughly 1 million square feet under lease.
A spokesman for AllianceBernstein did not immediately return a request for comment.
The transaction takes Virgo’s total footprint at the Fisher Brothers-owned property to nearly 83,000 square feet, with the company having also subleased the entire 40,791-square-foot second floor from AllianceBernstein in 2013.
The shared office provider already has more than 200,000 square feet of space across five New York City locations at 575 Lexington Avenue, the Chanin Building at 380 Lexington Avenue, the Empire State Building, 14 Penn Plaza and 1345 Avenue of the Americas.
In addition to AllianceBernstein, other tenants at 1345 Avenue of the Americas include private equity firm Fortress Investment Group, law firm Linklaters and infrastructure-focused investment firm Global Infrastructure Partners.
