Hess Subleases to Pro Services Firm at 1185 Avenue of the Americas
By Terence Cullen August 19, 2015 3:12 pm
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UHY Advisors, a professional services company, has taken a full-floor sublease from the Hess Corporation at the SL Green (SLG) Realty Corp.-owned 1185 Avenue of the Americas.
The company is taking 29,166 square feet, or the entire 38th floor, according to DTZ, which represented the subtenant in the deal. The space will be fully furnished when UHY Advisors moves in this fall.
The sublease runs through the end of 2027 at the 1-million-square-foot building between West 46th and West 47th Streets, according to a DTZ spokesman. The asking rent was $68 per square foot.
“This is a company that has been consistently ranked as one of the most prominent professional services firms in the United States and its new office will reflect its position in the industry,” Robert Yaffa of DTZ, who represented UHY Advisors with colleague Wayne Van Aken, said in prepared remarks. “The company will utilize the space’s existing high-end build-out, which provides it with significant relief in terms of construction costs. What’s more—the building’s close proximity to major mass transportation hubs, amplifies the opportunity to recruit and retain top-level talent.”
The duo from DTZ had been searching for a new home for UHY Advisors for the last 18 months, according to The New York Post, which first reported news of the deal. UHY Advisors is moving from 19 West 44th Street between Avenue of the Americas and Fifth Avenue.
Stuart Romanoff, Amy Fox and Franklin Speyer of Cushman & Wakefield represented Hess in the sublease. A C&W spokeswoman did not immediately return a request for comment.
Along with Hess, the building is also home to National Hockey League offices and the entity’s flagship store on the ground floor retail space.
