Leases  ·  Office

Swiss Re Relocating and Downsizing to 68K-SF Midtown Offices


Reinsurance giant Swiss Re has signed a 67,688-square-foot deal at Paramount Group’s 1301 Avenue of the Americas to move and shrink its New York offices, according to CoStar (CSGP) Group.  

The Switzerland-based firm will occupy the entire 43rd through 45th floors in the 1.7-million-square-foot tower. The 45th floor has 21-foot-high ceilings and includes an outdoor terrace with views of Central Park, as The New York Post first reported. The asking rent in the deal was $100 per square foot. The terms of the lease were not immediately clear.

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Swiss Re is moving from its 93,344-square-foot offices on the 40th through 42nd floors of Fisher Brothers55 East 52nd Street between Park and Madison Avenues, which is also known as Park Avenue Plaza. It was not clear why the company is downsizing; a spokesman for the firm did not return a request for comment.

Robert Martin of JLL, who worked along with a team from Colliers International, represented Swiss Re in the deal. And a JLL team of Frank Doyle, David Kleiner and Clark Finney negotiated the transaction on behalf of Paramount with Peter Brindley in-house.

A spokesman for JLL declined to comment and confirm details of the deal, and it wasn’t immediately clear who from Colliers (CIGI) worked on the deal.