Mitsui Fudosan America Tower Sees Tenant Expansion

November 19, 2025

Brokerage New York News Northeast More Office

New leases at the reimagined Manhattan building total nearly 200,000 square feet.

1251 Avenue of the Americas South Lobby. *Image courtesy of Mitsui Fudosan America*

1251 Avenue of the Americas, in Midtown Manhattan, reports a recent surge of leasing, totaling more than 198,000 square feet. That represents a sizable portion of Mitsui Fudosan America’s 2.4 million-square-foot building, which has an occupancy rate of more than 90 percent.

Taking space in the tower is Trust Company of the West, which executed a long-term renewal and expansion totaling 80,200 square feet on the 47th and 48th floors. Ben Friedland, Gary Davies, Lauren Crowley and Elliot Bok of CBRE represented the tenant in the deal.

McGuireWoods signed a long-term extension and expansion totaling 75,000 square feet, maintaining its space on the 20th floor and expanding its footprint to the 21st floor. The company represented itself in the negotiations.

RBC, which signed a long-term lease for 42,900 square feet on the 36th floor, is relocating from 1211 Avenue of the Americas. Bruce Mosler, Maria Travlos, Ethan Silverstein, David Mosler and Greg Herman of Cushman & Wakefield represented the tenant.

Newmark President, New York Tri-State Region David Falk, along with Vice Chairman Pete Shimkin, Executive Managing Director Eric Cagner and Associate Claire Koeppel, are the leasing agents for the building, representing ownership in lease negotiations.

Recent upgrades

Mitsui Fudosan has been making improvements to the property recently, aiming toward a “fully integrated workplace destination,” aligning with ongoing office building trends focused on amenity-rich environments. Its investment in the building has totaled about $100 million.

1251 Avenue of the Americas Terrace. *Image courtesy of Atelier Rouje*

The upgrades include a newly delivered executive lounge and conference center on the concourse level. A tenant-only terrace lounge on the seventh floor, with AV capabilities and an outdoor kitchen and bar, provides outdoor conference and gathering space. An indoor welcome center is currently under development.

Ownership has also upped the building’s dining program by bringing a number of high-profile restaurant concepts to 1251 Avenue of the Americas. They include the U.S. flagship of Rome-based restaurant Ginger, a white-tablecloth Italian restaurant; the 10,000-square-foot flagship of Duke Café; and Double Knot, an upcoming two-level Japanese restaurant and lounge.

1251 Avenue of the Americas lounge and conference center. *Image courtesy of Mitsui Fudosan America*

Mitsui Fudosan America, the U.S. arm of the Japanese real estate giant Mitsui Fudosan, has owned the 54-story building for nearly 40 years, acquiring it in 1986 from the Rockefeller Group. The tower, designed by Harrison, Abramovitz & Harris, was originally developed in 1970, and features a landscaped public plaza with a two-tiered reflecting pool that is the largest fountain in Manhattan.

Manhattan office leasing picks up

The deals at 1251 Avenue of the Americas come at a time of rebounding interest in Manhattan office space. During the third quarter of 2025, new leasing reached 7.3 million square feet, according to Cushman & Wakefield, which is well above the historical average.

So far in the first three quarters of 2025, new Manhattan office leasing has totaled nearly 23 million square feet, up 37.6 percent from the same period in 2024, positioning 2025 to be one of the borough’s strongest leasing years since 2019, Cushman & Wakefield reported.

Trophy assets lead the pack, with Class A leasing accounting for 17.9 million square feet thus far in 2025, which is the highest January-to-September total over 30 years, Cushman & Wakefield noted. There were 10 new or expansion leases of more than 100,000 square feet completed during the third quarter of 2025.