Leases  ·  Office

Insurance Underwriter Moving to Tower 46 From One Bryant Park


Ascot Underwriting, a global speciality insurance underwriter, has signed a 14,807-square-foot lease at SL Green Realty Corp.’s 55 West 46th Street to relocate its New York City offices, the landlord announced.

The tenant, which has expertise in property, energy, cargo, fine art, health care, personal accident and other industries, will occupy a portion of the 26th floor of the 34-story building called Tower 46 between Fifth Avenue and Avenue of the Americas. The 10-year deal had an asking rent in the mid-$90s per square foot, a source told Commercial Observer.

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Ascot Underwriting is relocating from One Bryant Park at the corner of West 42nd Street and Avenue of the Americas, where the company has 4,000 square feet, the source said.

“Tower 46 is one of the few new construction towers available in Midtown Manhattan,” SL Green (SLG)’s Steven Durels, the director of leasing and an executive vice president, said in a prepared statement. “Its state-of-the-art building infrastructure delivers an unparalleled work environment.”

CBRE (CBRE)’s Michael Rizzo and Zachary Price handled the deal for Ascot Underwriting, and declined to comment via a spokeswoman. A separate CBRE team of Peter Turchin, Sam Seiler, James Ackerson, Christie Harle and Cara Chayet represented SL Green alongside the landlord’s in-house duo of David Kaufman and Paul Milunec.

Tenants in the 347,855-square-foot office tower, which features column-free floors and floor-to-ceiling windows,include law firm Nixon Peabody, Comcast and private investment firm Fir Tree Partners.

The New York Post first reported news of the transaction.