Chubb Expands Its Waist Size at Durst’s 1133 Avenue of the Americas
By Lauren Elkies Schram April 15, 2016 1:31 pm
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Property and casualty insurer Chubb has tacked on 45,910 square feet at Durst Organization’s 1133 Avenue of the Americas, bringing its total square footage in the 44-story building to 184,000, Durst’s spokesman told Commercial Observer.
Chubb signed an eight-year lease for the additional square footage on the 11th and 35th floors of the building between West 43rd and West 44th Streets. The asking rents for the 11th and 35th floors are $77 and $93 per square foot, respectively, as The Real Deal first reported.
“We are thrilled Chubb has expanded their footprint at 1133 Avenue of the America,” Jonathan “Jody” Durst, the president of Durst, said in a company press release. “We look forward to many productive years of partnership with Chubb at 1133.”
In January, ACE Limited acquired The Chubb Corporation for $29.5 billion, and together they operate under the name Chubb. ACE has been a tenant at the 1.1-million-square-foot 1133 Avenue of the Americas since 1998, occupying part of the 11th, 30th and 35th floors as well as the entire 32nd, 34th, 38th, 41st, 44th and 45th floors.
JLL’s Martin Horner and Pam Klyn represented Chubb. Durst Organization was represented in-house by Tom Bow and Rocco Romeo. JLL’s spokesman didn’t immediately respond to a request for comment.
The 44-story Class A building underwent a $10 million enhancement program in 2013 which included renovations to the lobby and installation of destination dispatch elevator controls as well as new elevator cab interiors. The structure is 91 percent occupied, the Durst spokesman said, and is home to the world headquarters, showroom and performance space of Steinway & Sons as well as the New York headquarters of Patterson Belknap Webb & Tyler. In January, ING Financial Holdings decided to relocate its New York City offices to four floors at the Durst building. The National Basketball Players Association in September signed a deal for 47,294 square feet on the entire fifth floor and part of the sixth floor, as CO previously reported.
