Mizuho Expands Manhattan Footprint with 150K-sf Sublease
Japanese investment bank, Mizuho Financial Group, recently secured a 7-year sublease for 151,409 square feet at 1285 Avenue of the Americas. The expansion was prompted by the firm’s “steady headcount increase” according to reported statements by a Mizuho spokesperson. The 39-story, 1.6 million-square-foot tower is 100% leased, having pre-leased the approximately 430,000 square feet to law firm Ropes & Gray that Paul Weiss Rifkind Wharton & Garrison plans to vacate later this year when the law firm relocates to 1345 Avenue of the Americas. Mizuho plans to move into the new space spanning the 9th and 10th floors in the late fall. It is in addition to the company’s nearby headquarters at 1271 Avenue of the Americas — the former Time-Life Building, where it plans to remain. According to news reports in 2017, Mizuho Americas, the U.S. arm of Mizuho Financial, had initially secured a lease for 148,000 square feet on the 2nd and 3rd floors, enabling a consolidation of staff previously located at 320 Park Avenue, 1440 Broadway, and 125 West 50th Street; and five months later, secured a lease for 270,000 square feet of expansion space increasing their footprint to 418,000 square feet.