1095 Avenue of the Americas

1095 Avenue of the Americas
3 Bryant Park
1095 Avenue of the Americas (left) and Bank of America Tower (right) viewed from Bryant Park
Map
General information
TypeOffice
LocationMidtown Manhattan, New York City
Coordinates40°45′17″N 73°59′05″W / 40.754621°N 73.984702°W / 40.754621; -73.984702
Construction started1971
Completed1973
OwnerIvanhoé Cambridge, Real Summit Investment
Height
Roof630 ft (190 m)
Technical details
Floor count41
Floor area1,300,000 sq ft (120,000 m2)
Design and construction
Architect(s)Kahn & Jacobs

1095 Avenue of the Americas is a 630-foot-tall (190 m) skyscraper in the Midtown Manhattan neighborhood of New York City. It was constructed from 1971 to 1973 to be the headquarters of New York Telephone Company and has 41 floors.[1] The building also served as the headquarters of NYNEX and Bell Atlantic.[2] Kahn & Jacobs designed the tower, which is the 98th tallest building in the city. The original facade was said to be designed to resemble the relays which were commonly found inside telephones of the time.

History

From 2006 to 2007, the tower was upgraded from Class B+ to Class A office space for $260 million.[1] The phone company moved its headquarters to 140 West Street in the early 2000s and sold off most of the Sixth Avenue building. Verizon retained a condominium interest in floors 6-12, where it maintained offices and a telephone exchange serving landlines in Midtown Manhattan. In 2013, the company moved its corporate headquarters back to 1095 Avenue of the Americas[3] after selling the upper floors of the Verizon Building.

In 2015, Ivanhoé Cambridge and Callahan Capital Properties purchased 1095 Avenue of the Americas from The Blackstone Group for $2.2 billion, the most expensive transaction involving a single office building in New York City since 2008.[4] In August 2016, Real Summit Investment, a real estate investment subsidiary of the Hong Kong Monetary Authority's Exchange Fund, paid $1.15 billion for a 49% stake in the building.[5]

Tenants

In addition to Verizon, other major tenants as of late 2008 include insurance giant MetLife (whose name is outside above the entryway), law firm Dechert LLP, iStar Financial, Lloyds Banking Group, Instinet, Standard Chartered USA, and Stifel. [6][7] In 2013, Whole Foods Market finalized a deal to open a 32,000-square-foot (3,000 m2) flagship location spread across the first and second floors of the building.[8] The market opened its doors in January 2017.[9] Pandora Jewelry, Tourneau, and Equinox Fitness also operate in the base of the building. ASICS abruptly vacated its 5,000-square-foot (460 m2) space in October 2015 amid a legal battle with the company's retail operator, less than a year after moving in.[10]

In 2016, Salesforce signed a deal to rename the building Salesforce Tower, and the San Francisco-based company plans to eventually occupy 5 floors. The first Salesforce employees in New York City to move to the new office arrived on Monday November 14, 2016. U.S. Bancorp signed a lease for 68,000 square feet (6,300 m2) in September 2016[11] and Apollo Global Management followed in July 2017 with a 70,000 square feet (6,500 m2) lease.[12] Lloyds Bank leased approximately 35,000 square feet (3,300 m2) in January 2019, bringing the building to 96% occupancy.[13]

References

  1. ^ a b "1095 Avenue of the Americas, New York City | 115496". Emporis. Archived from the original on July 11, 2015.
  2. ^ "Mail Us". Bell Atlantic. January 6, 2010. Retrieved on April 29, 2010.
  3. ^ Geiger, Daniel (September 12, 2013). "Storm-soaked Verizon decamps from downtown". Crain's New York Business. Retrieved November 19, 2013.
  4. ^ "Ivanhoe Cambridge closes on $2.2B acquisition of 1095 Sixth". The Real Deal New York. January 16, 2015.
  5. ^ Putzier, Konrad (August 3, 2016). "Hong Kong pays $1.2B for stake in 1095 Sixth Ave". The Real Deal New York.
  6. ^ Stifel. "Stifel | New York - Branch". www.stifel.com. Retrieved September 28, 2017.
  7. ^ "Standard Chartered US Locations". Standard Chartered. Archived from the original on February 3, 2014. Retrieved February 2, 2014.
  8. ^ "Whole Foods inks deal for Bryant Park location". The Real Deal New York. December 17, 2013.
  9. ^ Krisel, Brendan (January 6, 2017). "Whole Foods Market to Open in Midtown Near Bryant Park". Midtown Manhattan, NY Patch.
  10. ^ Maurer, Mark (June 2, 2016). "Pandora Jewelry takes space in glass cube at 3 Bryant Park". The Real Deal New York.
  11. ^ "US Bank to take 68K sf at 3 Bryant Park for new HQ". The Real Deal New York. September 19, 2016.
  12. ^ Bockmann, Rich (July 31, 2017). "Asset manager Apollo has found a new space in Midtown". The Real Deal New York.
  13. ^ "BANK 2019-BNK19 Free Writing Prospectus". Securities and Exchange Commission. July 15, 2019.
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