Emerge212 Signs at Parent Company SL Green’s 1185 Avenue of the Americas
Terence Cullen June 22, 2016, 1:25 p.m.
SL Green Realty Corp.’s version of short-term office space has signed a lease at 1185 Avenue of the Americas.
Emerge212, the landlord’s short-term rental wing, is taking 55,292 square feet on the second and third floors of the SL Green building between West 46th and West 47th Streets, according to The Real Deal, which first reported news of the deal.
The 16-year-old subsidiary also has locations at SL Green’s 3 Columbus Circle and 125 Park Avenue between East 41st and East 42nd Streets, TRD noted. Emerge 212 is also at 28 West 44th Street between Avenue of the Americas and Fifth Avenue, which SL Green sold off in March 2011 for $161 million, as the Observer reported at the time.
“At Emerge212, we’re excited to be opening another Class A, full-serviced office environment focused on high technology, high design and a space conducive to personal well-being in the workplace,” James Kleeman, the director of Emerge212, said in an emailed statement to Commercial Observer.
He added that Emerge212 was less of today’s typical coworking space because it caters to more established firms.
“Not all of us have startups as our tenant base,” he said. “Not all of us have tenants going month-to-month. It’s very similar to the hotel industry in the range of options and quality.”
Asking rents at 1185 Avenue of the Americas run from $70 to $90 per square foot, according to TRD. The National Hockey League has its offices in more than 139,000 square feet at the building, according to CoStar Group, as well as its store in the base of the building.
Steven Durels, the head of leasing for SL Green, was not immediately available for comment.