Avison Young plans to triple the size of its New York City office space with a sublease deal for 40,200 square feet at Minskoff Equities’ 1166 Sixth Avenue.
The Toronto-based commercial brokerage currently occupies a space at 623 Fifth Avenue. Now, the firm will move to the 15th floor of the 44-story Tower Near West 45th Street, about four blocks south of 623 Fifth. Asking rent for the sublease in the Midtown building is in the $40s per square foot, sources told the publication. Avison Young’s sublease would expire in 2020.
Condé Nast, the publishing giant that is facing rat infestation issues after recently relocating to One World Trade Center, leases the space, Crain’s reported.
Three subleases totaling 120,720 square feet were signed at 1166 Sixth Ave. in August, as The Real Deal reported. [Crain’s] — Mark Maurer