Insurance Company Starr Signs 49K-SF Lease at 1177 Avenue of the Americas

Global insurance and investment firm Starr will open a new 49,264-square-foot office at 1177 Avenue of the Americas, building owner Silverstein Properties announced.

The firm signed a “multi-year” lease for the entire seventh and eighth floors of the 47-story 1177 Avenue of the Americas, according to Silverstein. It will maintain the space it currently occupies on the second floor of BXP’s 399 Park Avenue less than a mile away, and use the Avenue of the Americas footprint to expand its New York City regional headquarters, Silverstein said.

Asking rent was $80 per square foot, a source with knowledge of the deal told Commercial Observer. The New York Post first reported the news. 

Silverstein was represented in-house by Harlan Strader, alongside Cushman & Wakefield’s Lou D’Avanzo, Anthony LoPresti, Peter Kerans and Caroline Collins. C&W’s Alex Lachmund and John Picco handled it for Starr. C&W did not immediately respond to a request for comment. 

“We are proud to welcome Starr’s New York regional office expansion at 1177 Avenue of the Americas,” Strader said in a statement. “Striking a balance of big-business prestige with boutique touches, the uplifting, sun-filled environment we’ve created at 1177 Avenue of the Americas continues to attract world-leading firms that put a premium on wellness and productivity.”

Other tenants at 1177 Avenue of the Americas, also known as Americas Tower, include the law firm Kramer Levin, the private equity firm Mill Point Capital and the nonprofit organization Practising Law Institute.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.