Preceding the firm’s permanent relocation to 55 Water Street, McGraw Hill Financial has taken 8,000 square feet of space for personal offices in 1251 Avenue of the Americas between West 49th and West 50th Streets, according to the New York Post.
The publication reported that the company has signed a 7.5-year lease for its new space on the 34th floor of the 53-story skyscraper. Though asking rents were not available for this transaction, Commercial Observer previously reported that asking rents at the property range from the low-$100s per square foot on upper floors to $85 per square foot on lower floors.
McGraw Hill Financial will be moving from its current office at 1221 Avenue of the Americas between West 48th and West 49th Streets, where it has roughly 413,000 square feet, by the end of this year, according to Bloomberg News.
CBRE’s Paul Myers and Michael Liss represented McGraw Hill. Newmark Grubb Knight Frank’s David Falk and Peter Shimkin represented the landlord.
Both CBRE and NGKF declined to comment on the deal.