MLB Players Association Inks 50K-SF Deal at 1325 Avenue of the Americas
By Mark Hallum January 3, 2024 1:10 pm
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The Paramount Group landed a major league tenant.
The Major League Baseball Players Association (MLBPA) signed a 15-year, 50,000-square-foot lease at 1325 Avenue of the Americas to relocate its headquarters, according to Bisnow. Asking rent was $77 per square foot, according to Bisnow.
The MLBPA — the union that represents professional baseball players — will be relocating from Kato International’s 12 East 49th Street, also known as Tower 49. It’s unclear how much space it occupies or how long it’s been at 12 East 49th.
It will take over the 29th and 30th floors of the Paramount Group-owned 1325 Avenue of the Americas.
Cushman & Wakefield (CWK)’s Patrick Murphy and Will Yeatman negotiated on behalf of the MLBPA in the transaction while the landlord was represented by JLL (JLL)’s Frank Doyle, David Kleiner, Clark Finney and Andrew Coe.
The Paramount Group, C&W and JLL did not immediately respond to a request for comment.
Other tenants in the building include law firm Cohen Ziffer Frenchman & McKenna, which leased 23,347 square feet in February 2022, and McGraw-Hill Education occupies about 136,000 square feet, which it leased in May 2018.
Mark Hallum can be reached at mhallum@commercialobserver.com.
