$128M upgrade helps former CBS headquarters keep white-shoe firm
In the latest reflection of Sixth Avenue’s enduring appeal, global law firm Orrick, Herrington & Sutcliffe renewed its lease on 144,312 square feet for 15 years at 51 W.52nd St., the avenue’s fabled “Black Rock” tower.The former CBS headquarters is more than 90% leased since Harbor Group International bought the landmark for $760 million in October 2021.
The new owners spent $128 million to bring the tower up to 21st Century speed with revamped lobbies, upgraded interiors and an amenities suite including a fitness center and private tenants’ cafe in the concourse.The upgrades helped HGI to land 500,000 square feet of new leases and renewals.Other large tenants include law firm Wachtell Lipton Rosen & Katz and Canadian pension fund CPPIB.Asking rents in the tower are $115 per square foot.A CBRE team led by Mary Ann Tighe repped Orrick, Herrington.
A different CBRE team with Howard Fiddle and Scott Gottlieb repped the owners....