1095 Avenue of the Americas

1095 Avenue Of The Americas is a 630 ft (192m) tall skyscraper in New York City, New York. It was constructed from 1972 to 1974 as headquarters of New York Telephone and has 41 floors. The building also served as the headquarters of NYNEX and Bell Atlantic. Kahn & Jacobs designed the tower, which is the 98th tallest building in New York. The original facade was said to be designed to resemble the relays which were commonly found inside telephones of the time.

History

From 2006 to 2007, the tower received a $260 million renovation which upgraded the office space from Class B+ to Class A office space. The phone company moved its headquarters to the Verizon Building in the early 2000s, and sold off most of the building, retaining a condominium interest in floors 6-12, where Verizon maintained offices and a telephone exchange serving landlines in Midtown Manhattan. However, in 2013, the company moved its corporate headquarters back to 1095 Avenue of the Americas, following a sale of the upper floors of the Verizon Building.

In 2015, Ivanhoé Cambridge and Callahan Capital Properties purchased 1095 Avenue of the Americas from The Blackstone Group for $2.2 billion, the most expensive transaction involving a single office building in New York City since 2008. In August 2016, Real Summit Investment, a real estate investment subsidiary of the Hong Kong Monetary Authority’s Exchange Fund, paid $1.15 billion for a 49% stake in the building.

Tenants

In addition to Verizon, other major tenants as of late 2008 include insurance giant MetLife (whose name is outside above the entryway), law firm Dechert LLP, iStar Financial, Lloyds Banking Group, Instinet, Standard Chartered USA, and Stifel. In 2013, Whole Foods Market finalized a deal to open a 32,000-square foot flagship location spread across the first and second floors of the building. The market opened its doors in January 2017. Pandora Jewelry, Tourneau, and Equinox Fitness also operate in the base of the building. ASICS abruptly vacated its 5,000 square foot space in October 2015 amid a legal battle with the company’s retail operator, less than a year after moving in.

In 2016, Salesforce.com signed a deal to rename the building Salesforce Tower and the San Francisco-based company will eventually occupy 5 floors. The first Salesforce employees in NYC to move to the new office arrived on Monday 14 November 2016. U.S. Bancorp signed a lease for 68,000 square feet (6,300 m²) in September 2016 and Apollo Global Management followed in July 2017 with a 70,000 square feet (6,500 m²) lease. Lloyds Bank leased approximately 35,000 square feet (3,300 m²) in January 2019, bringing the building to 96% occupancy.

Text imported from Wikipedia article "1095 Avenue of the Americas" and modified on July 23, 2019 according to the CC-BY-SA 4.0 International license.