Kohn Pedersen Fox Associates PC lease 65,000 sf in Midtown
NEW YORK – GVA Williams announced today that Kohn Pedersen Fox Associates PC, one of the world’s foremost architectural firms, is relocating its New York City headquarters and has signed a long-term lease for approximately 65,000 square-feet over three floors at 11 West 42nd Street. The class A office tower is located in the heart of the Bryant Park section of midtown Manhattan. Asking rents at the property owned by Tishman Speyer are $67 per square foot.
The firm leased on a direct basis part of the eighth and the entire ninth floor totaling 43,000 square feet and subleased 22,000 square feet of space on part the 18th floor in the 32-story building. The firm will begin its move later this year from its current New York City headquarters location at 111 West 57th Street. Next year all of its current 300 employees based in New York City will be relocated to 11 West 42nd Street.
Brian Feist, Senior Managing Director, of GVA Williams, represented KPF.
“Together Tishman Speyer and GVA Williams had the vision to lease the space to KPF 18 months prior to the its delivery,” said Feist. “The space fits their needs. KPF went from 50,000 to nearly 65,000 square feet with this move. It was a win-win scenario for both parties.”
11 West 42nd Street is a building originally known as Salmon Tower. York & Sawyer designed the building in 1926-27. It is especially noteworthy for the tile vaults of its lobby, produced by the renowned Guastavino firm, and for the bas-reliefs around its entrance, representing the months of the year. New York University occupies part of the building as does Martha Stewart Living and CIT Group Inc.
Handling the transaction was Greg Conen, Senior Director at Tishman Speyer. Andrew Herz, ESQ, of Patterson Belknap Webb & Tyler, LLP was the legal consultant for KPF in the transaction.
Over the last 32 years, KPF has grown with offices in New York, London (1989), and Tokyo (1995). Completed buildings and projects in-progress can now be found in over 30 countries and in more than 30 states.
KPF offers full architectural, master planning, space planning, programming and building analysis services for clients in both the public and private sectors. KPF’s portfolio includes: mixed-use buildings, corporate and institutional master plans, investment office buildings, retail developments, entertainment complexes, corporate headquarters, educational and institutional facilities, health care facilities, hotels, resorts, conference centers, residences, transportation facilities, and museums.
