Plug & Play Office Space at 1114 Avenue of the Americas – Perfect For a Private Equity Firm or an Investment Bank

The Grace Building is one of the most iconic office towers in Midtown Manhattan.  Designed by Gordon Bunshaft in 1974 (the same visionary that created Sheldon Solow’s 9 West 57^th Street), with a curved vertical slope and white travertine construction, the asset has a strikingly similar appearance to New York City’s most prestigious address, 9 West.  Though the building is not as far north as The Solow Building, nor does it encompass the same Central Park exposures that can drive rents in excess of $200 per square foot, 1114 Avenue of the Americas is located directly across the street from Bryant Park and offers unparalleled access to transportation and a premier tenant roster.

As the demand for trophy office space near Bryant Park and Grand Central continues to percolate, so do the asking rents (click here to learn the difference between Trophy, Class A and Class B office buildings).  With buildings such as 7 Bryant Park, One Bryant Park, 1095 Avenue of the Americas, 1140 Avenue of the Americas, 452 Fifth Avenue and the soon-to-be-built One Vanderbilt commanding triple digit rents, the Grace Building often achieves a similar premium as well.  With very few small spaces available in the tower, there is a unique sublease opportunity on the partial 22^nd floor.

Offered for sublease from Kilpatrick Townsend & Stockton (an AMLAW 100 Law Firm), the unit measures 4,480 rentable square feet and was recently built to a very high standard with a primarily office intensive layout (click here for a floorplan).  Though there is currently minimal open space, the sublandlord will make a cash contribution so a subtenant can reasonably modify the existing installation (i.e. to create a large trading area for a hedge fund).  In its current configuration, the office space lends itself very well to private equity and investment bank layouts and  can be perfect for law firms and other office intensive users.  With a healthy amount of term remaining on the sublease (through September 30, 2022), this is a tremendous value in one of Midtown Manhattan’s most premier office buildings.  Click here to contact us for more information (i.e. asking rent) or here to use our free office space search.