ING Expands to 154 KSF in Manhattan

ING Group has expanded its office presence at 1133 Avenue of the Americas in Manhattan to 153,915 square feet, according to a CBRE office report. The firm previously signed a lease for 132,400 square feet in 2016, Yardi Matrix data shows.

The Durst Organization owns the 1.1 million-square-foot high-rise. The 45-story tower was built in 1970 and underwent complete renovations in 2016.

Capital improvements at the LEED Gold-certified building included the renovation of the lobby and addition of a landscaped outdoor plaza. The property has floorplates ranging between 23,634 and 35,291 square feet, as well as more than 26,300 square feet of retail space.

Other major tenants at the high-rise include Bank of America, HedgeServ and Charles Schwab. Located between 43rd and 44th streets, the property is within walking distance of Rockefeller Center and the Empire State Building.

Manhattan’s office vacancy rate down year-over-year

Manhattan’s office vacancy rate at the end of October clocked in at 13 percent, marking a 370-basis-point year-over-year decrease, according to a recent Yardi Matrix office report. This reflects broader office real estate trends that continue to show gradual improvement across key U.S. urban markets.

The figure was also considerably below the 18.6 percent national average. The borough’s average listing rate during the same month was $68.0, down 70 basis points from the same month of 2024.

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In July, Verizon signed a 203,000-square-foot lease at Penn 2, a 1.6 million-square-foot tower in Midtown Manhattan. The company will relocate its New York City headquarters to Vornado Realty Trust’s 31-story building in 2026.

Other notable leasing agreements in the area include Clear Street’s lease extension and expansion at 4 World Trade Center. The fintech company will grow its headquarters to about 88,000 square feet and will continue to occupy the space for more than 10 years.