German Bank Berenberg Expands by 31K SF at 1251 Avenue of the Americas
By Nicholas Rizzi July 19, 2021 3:44 pm
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German bank Berenberg Capital Markets expanded and renewed its offices at 1251 Avenue of the Americas, brokers on the deal announced.
Berenberg signed a 15-year renewal along with a 30,700-square-foot expansion at Mitsui Fudosan America’s 54-story building between West 49th and West 50th streets, the New York Post first reported. Asking rent was in the $90s per square foot, according to the Post.
The bank first took 31,700 square feet on the entire 53rd floor of 1251 Avenue of the Americas in 2017. Its new deal brings its presence to 62,400 square feet and it will add the entire 52nd floor to its offices, according to tenant brokers JLL (JLL).
JLL’s Mitchell Konsker, Benjamin Bass and Alexander Chudnoff represented Berenberg in the deal, while David Falk and Peter Shimkin of Newmark (NMRK) handled it for the landlord. A spokesperson for Newmark did not immediately respond to a request for comment.
“This transaction positions Berenberg Capital Markets in the heart of Midtown to continue to expand its New York presence,” Konsker said in a statement. “It’s an opportune time for the company to secure long-term space that facilitates its operations and growth.”
Other tenants in the 2.4 million-square-foot 1251 Avenue of the Americas include law firm Akerman, Waterfall Asset Management, and retail trade group Innovating Commerce Serving Communities (which changed its name from the International Council of Shopping Centers on Monday).
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
