Pace of 2025 Office Leasing Hits the Ground Running

Just a few days after ringing in the New Year, reports arrived announcing the 504,000-square-foot lease by Citadel at 660 Fifth Avenue, kicking-off 2025 on a high note for Manhattan’s office market as the pace of leasing hit the ground running and two more big block deals were reported a week later. Knitwell Group, the parent company of fashion house Ann Taylor has secured a 20-year renewal and expansion at 7 Times Square, located at 1457 Broadway. As part of the signing, Knitwell will add two additional floors totaling 55,000 square feet to its existing 191,000-square-foot space bringing the company’s footprint within the 47-story tower to 246,000 square feet. A second signing will see the Federal Deposit Insurance Agency (FDIC) relocate to Edward J. Minskoff Equities’ 1166 Avenue of the Americas. The announced 148,000-square-foot lease under a 10-year term will result in the government agency relocating and expanding from 119,000 square feet at the Empire State Building, 350 Fifth Avenue, where they’ve been located since 2009, having moved from 20 Exchange Place in Lower Manhattan. News of the deal comes a few days following a second big block government agency lease at a Minskoff property — this time in Queens, the firm’s building at 159-30 Rockaway Boulevard in the Jamaica neighborhood secured a 139,000-square-foot lease with the U.S. Customs & Border Protection – full details of the lease were not released.

Source:    https://product.costar.com/home/news/1658632152

Source:    https://therealdeal.com/new-york/2025/01/13/minskoff-signs-fdic-to-148k-sf-at-1166-sixth-avenue/