Ryan Specialty and ICBC Sign Lease Deals at 1185 Avenue of the Americas
By Mark Hallum January 23, 2024 3:47 pm
reprints
Three office tenants and a restaurant operation leased space at 1185 Avenue of the Americas, landlord SL Green (SLG) Realty announced.
ICBC Standard Resources, an arm of the Industrial and Commercial Bank of China" class="company-link">Industrial and Commercial Bank of China, took the largest footprint in the recent batch of leases after signing an 11-year lease for 14,728 square feet on the 15th floor, according to SL Green.
The bank will be relocating from its current offices at 520 Madison Avenue to join its parent company, which leased up to 100,000 square feet in the building in September 2018.
Timothy Gibson, Bill Levitsky, Jason Perla and John Cilmi of Newmark (NMRK) negotiated on behalf of the ICBC. Newmark did not respond to a request for comment.
A little higher up, Slatebrook, a foreign shell corporation without a clearly stated purpose, also signed an 11-year deal for a 14,428-square-foot space on the 23rd floor, according to SL Green. It’s unclear if the lease represents a new office or a relocation for Slatebrook.
The shell company had representation from Jacob Wolkenfeld of Norman Bobrow & Company" class="company-link">Norman Bobrow & Company. Wolkenfeld declined to comment.
Last on the office end, international insurance firm Ryan Specialty inked a three-year deal for 12,803 square feet on the 15th floor, according to SL Green.
Ryan Specialty will relocate from its current digs at 1166 Avenue of the Americas. Ryan Barr, Howard Grufferman and Catherine Soderquist of Colliers (CIGI) negotiated on behalf of Ryan Specialty.
A spokesperson for Colliers did not respond to a request for comment.
Carnegie Diner and Naxos Greek Restaurant, which are under the same ownership, signed a single, 14,309-square-foot lease for the ground floor of the building, according to SL Green. Jeffrey Roseman at Newmark represented the tenant while Richard Skulnik, Lindsay Zegans and Ben Sabin of Ripco Real Estate" class="company-link">Ripco Real Estate represented SL Green.
Ripco declined to comment and SL Green did not provide further details about the lease.
SL Green did not disclose the asking rent in the building but Manhattan saw an average office rent of $79.04 per square foot in the fourth quarter of 2023, according to a recent report by Transwestern.
Brian Waterman, Scott Klau, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark represented SL Green in all three leases.
Mark Hallum can be reached at mhallum@commercialobserver.com.
