Leases  ·  Office

TD Securities Expands by 25K SF at 125 Park Avenue

reprints


The investment arm of TD Bank is expanding by about a third in Midtown East.

TD Securities is growing its satellite office at SL Green Realty’s 125 Park Avenue by an additional 25,171 square feet. Asking rent was $70 per square foot, according to the landlord.

SEE ALSO: Brasserie Cognac Opening Third Manhattan Outpost at 461 Fifth Avenue

The investment firm also extended its lease for 11 more years after originally signing a deal for 52,000 square feet in 2018. That deal put the firm across the street from what would become its main offices at One Vanderbilt, where it agreed to take 171,000 square feet.

The expansion allows TD Securities to move into the entire 23rd floor of 125 Park, according to SL Green (SLG). Overall, this means that TD Bank leases a total of 247,000 square feet across SL Green’s portfolio.

Brian Waterman, David Falk, Peter Shimkin and Daniel Levine of Newmark (NMRK) represented SL Green in the deal, while TD Securities used in-house representation. Newmark did not respond to a request for comment.

Also at 125 Park Avenue is Canon Business Solutions, which renewed its deal for 33,766 square feet in 2018 for a term of 10 and a half years in 2018. Other tenants include Meister Seelig & Fein, Pandora Media and Blink Fitness

The 26-story, 655,000-square-foot building between East 41st and East 42nd streets was declared a designated historic site in 2016 by the New York City Landmarks Preservation Commission and will soon turn a century old, having been built in 1923.

Mark Hallum can be reached at mhallum@commercialobserver.com.