{"id":1004725971,"date":"2024-08-21T01:03:21","date_gmt":"2024-08-21T09:03:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004725971"},"modified":"2024-08-21T04:06:18","modified_gmt":"2024-08-21T12:06:18","slug":"christies-inks-400-ksf-renewal-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/christies-inks-400-ksf-renewal-in-manhattan\/","title":{"rendered":"Christie&#8217;s Renews 400 KSF Manhattan Lease"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004725982\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-center-courtesy-tishman-speyer-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg\" data-orig-size=\"1332,1000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1252147689&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Rockefeller Center. Courtesy Tishman Speyer\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg?w=1024\" height=\"769\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg\" alt=\"Exterior shot of a building within Rockefeller Center, the massive Manhattan complex\" class=\"wp-image-1004725982\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg 1332w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Rockefeller-Center.-Courtesy-Tishman-Speyer-edited.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Rockefeller Center recently underwent significant renovations. <em>Image courtesy of Tishman Speyer<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Auction house Christie&#8217;s has inked a 25-year lease renewal at Rockefeller Center for office space, salerooms, public galleries and warehouses in the famed Midtown Manhattan office and retail city-within-the-city. The London-based Christie&#8217;s U.S. headquarters occupies about 400,000 square feet at 20 Rockefeller Plaza. Christie&#8217;s originally moved to Rockefeller Center in 1997, when it signed a 30-year lease.<\/p>\n\n\n\n<p>The auction house&#8217;s decision validates the recent renovation of Rockefeller Center, Tishman Speyer CEO Rob Speyer said in prepared remarks. The work on the complex is slated to wrap up late this year.<\/p>\n\n\n\n<p>Among other renovations, Tishman Speyer opened up the lower-level passageways surrounding the property&#8217;s well-known skating rink to stimulate pedestrian flow. The rink level is now also home to three marquee restaurants, NARO, Jupiter and 5 Acres, which join Le Rock and others.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#abb8c3;color:#abb8c3\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/why-the-nyc-office-market-is-a-tale-of-two-cities-avison-young-brokers-analyze\/\">Why the NYC Office Market Is a Tale of 2 Cities<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#abb8c3;color:#abb8c3\"\/>\n\n\n\n<p>Tishman Speyer also added to the complex&#8217;s retail offerings through local establishments, including Catbird, McNally Jackson and Todd Snyder, along with global brands such as Alo Yoga, Tiffany &amp; Co. and Lego. High above the plaza level, the three-level Top of The Rock observation deck was also redeveloped.<\/p>\n\n\n\n<p>CBRE&#8217;s Mary Ann Tighe, Ramneek Rikhy, Cara Chayet and Courtney Hughson represented Christie&#8217;s, along with Jen Yashar and Danielle Frank of Fried Frank. Landlord Tishman Speyer&#8217;s team was led by E.B. Kelly and was represented in-house by Blythe Kinsler and by Charlie Mileski of Davis &amp; Gilbert.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-win-for-midtown\">A win for Midtown<\/h2>\n\n\n\n<p>The deal represents a positive development for Midtown Manhattan, especially the office market, which hasn&#8217;t fully recovered from the pandemic, though there has been improvement in the volume of leasing.<\/p>\n\n\n\n<p>Demand for office space was up in the second quarter of 2024, with tenants taking 4.4 million square feet, up 25 percent quarter-over-quarter and 41.1 percent year-over-year, according to Colliers. Rents eked out a 0.1 percent gain, but were down 1 percent from a year ago.<\/p>\n\n\n\n<p>Few recent leases are on the scale of Christie&#8217;s. However, in May, <a href=\"https:\/\/www.commercialsearch.com\/news\/bloomberg-inks-1-msf-hq-lease-renewal-in-manhattan\/\">Bloomberg bested the deal<\/a> by taking 946,800 square feet in a renewal at 731 Lexington Ave.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The auction house has been a tenant at the location since 1997. <\/p>\n","protected":false},"author":1023,"featured_media":1004725982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,1600,21742,10,21747],"tags":[33417,33918,33224],"class_list":["post-1004725971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-rob-speyer","tag-rockefeller-center","tag-tishman-speyer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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