Charles Schwab Renews 23K-SF Offices at Durst’s 1133 Avenue of the Americas
By Mark Hallum July 15, 2024 4:18 pm
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Charles Schwab is clearly invested in its offices near Bryant Park, Commercial Observer has learned.
The investment brokerage signed an 11-year renewal for its 23,000 square feet on the 37th floor of the Durst Organization’s 1133 Avenue of the Americas, where it has been since 2014, according to the landlord.
Asking rent in the building is $105 per square foot, according to Durst.
The massive office building spans the full block between 43rd and 44th streets on Avenue of the Americas, a block north of Bryant Park.
“The decision by Charles Schwab to recommit to 1133 Avenue of the Americas underscores their trust and satisfaction in the building including its prime location in the Bryant Park submarket,” Jonathan “Jody” Durst, president of Durst, said in a statement.
Thomas Bow, Rocco Romeo and Nora Caliban represented Durst in-house in the transaction. Durst did not say who brokered the deal for Charles Schwab.
Durst recently allocated $40 million at the property toward capital improvements, which include a travertine lobby and an LED art installation by Leo Villareal in 2012. In 2021 that Durst got a $1.1 billion commercial mortgage-backed securities refinancing from Bank of America, Citigroup and Wells Fargo for the property.
Other tenants in the building include online trading firm Interactive Brokers Group, which expanded to 22,916 square feet in April.
Mark Hallum can be reached at mhallum@commercialobserver.com.
