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Savills leases extra 20,481 square feet at 560 Lexington Avenue
Savills will take the entire third floor for a five-year term, expanding its New York City office four blocks from its U.S. headquarters at 399 Park Avenue.
Savills has signed a lease to expand its New York City footprint, taking an additional 20,481 square feet at 560 Lexington Avenue, according to a Thursday announcement by the landlord.
The firm will occupy the entire third floor at the 22-story Midtown East tower for a five-year term. Asking rent was not disclosed, though the average asking rent for Midtown office space was $84.88 per square foot in July, according to Colliers.
Rudin’s in-house team represented the landlord, while Savills represented itself in the transaction. Savills said the added space will support its program and project management group, and the new office is located four blocks from its U.S. headquarters at 399 Park Avenue.
The building, at East 50th Street and Lexington Avenue, has seen more than 110,000 square feet of deals completed there this year, including leases by SummitTX Capital, Ally Bridge Group, Marex, and Dynasty Equity, according to BXP.