Brazilian Government Doubles Footprint in the Daily News Building
By Mark Hallum November 25, 2024 12:00 pm
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The Federative Republic of Brazil is making a headline for itself at SL Green Realty’s Daily News Building in Midtown East.
The consulate general of the South American country not only signed a 10-year renewal for its 30,030-square-foot space at 220 East 42nd Street, but it also secured an additional 23,066 square feet for the Brazilian Mission to the United States and 12,235 square feet for the Brazilian Financial Office, according to SL Green.
Altogether, the Brazilian government will occupy 65,331 square feet on the 26th, 32nd, 33rd and 34th floors of the building, the landlord said. It’s unclear when Brazil’s government officials moved into the property.
Asking rent in the building was $70 per square foot, according to SL Green.
“With its historic architecture and proximity to Grand Central Terminal and the United Nations, the News Building is world famous as the home to Superman,” SL Green’s Steven Durels said in a statement.
Peter Trivelas and Justin Royce of Cushman & Wakefield (CWK) represented the Brazilian government in the deal while a C&W team of Harry Blair, Tara Stacom, Barry Zeller and Pierce Hance negotiated on behalf of SL Green. A spokesperson for C&W did not immediately respond to a request for comment.
The 37-story Art Deco tower was built between 1928 and 1930 by architects Raymond Hood and John Mead Howells. Other tenants include Visiting Nurse Services, Omnicom Group, United Nations Development Program and WPIX.
In 2021, SL Green sold off a 49 percent stake in the building to a real estate fund managed by Meritz Alternative Investment Management for $790 million, Commercial Observer reported at the time. SL Green still holds 51 percent ownership.
Since then, UN Women, a United Nations organization that serves women in developing countries, renewed its 85,522-square-foot space in March 2022.
Mark Hallum can be reached at mhallum@commercialobserver.com.
