Morgan Stanley Expanding More Than Fourfold to 261K SF at 1633 Bway
By Lauren Elkies Schram December 4, 2015 4:30 pm
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Morgan Stanley is expanding its office space at Paramount Group’s 1633 Broadway to roughly 261,000 square feet, Commercial Observer has learned.
The financial institution will assume the new space at Paramount Plaza between West 50th and West 51st Streets on May 7, 2016, according to CoStar (CSGP). This will give the company floors 26, 27, 29, 30 and 33. The company has been leasing 60,000 square feet in the building.
Paramount Group’s Peter Brindley represented the landlord in-house. He didn’t immediately respond to a request for comment. CBRE’s Robert Alexander represented Morgan Stanley in the deal. He didn’t respond to inquiries either.
The lease is for 15 years, a source told CO. The asking rent was in the low- to mid-$70s per square foot.
The 48-story, 2.6-million-square-foot building has floor plates ranging from 21,775 to 54,000 square feet. A 2012 multi-million dollar renovation at 1633 Broadway included a new entrance lobby, new lighting and new lobby ceilings.
Other tenants include record company Warner Music Group, law firm Kasowitz, Benson, Torres & Friedman and investment adviser Allianz Capital Partners of America. And, as CO previously reported, a week before sealing a deal for a new home at 1633 Broadway, FAO Schwarz’s deal fell through.
