What’s being billed as midtown Manhattan’s biggest contiguous block of Class A office space is on the leasing market as limited top-tier supply has helped push office rents to record highs.
The Durst Organization, the owner and operator of multiple midtown office buildings in addition to One World Trade Center in Lower Manhattan, is marketing up to 600,000 square feet at 114 W. 47th St. The 26-story property, between Sixth and Seventh avenues, offers what Durst called “a rare opportunity for a single tenant to occupy the entire building.”
Bank of America Private Bank is the largest tenant at the nearly 612,000-square-foot property, occupying about 240,000 square feet under a lease expiring in November 2029, according to CoStar data.
The building features floor plates ranging from 18,000 to 32,000 square feet, along with seven private terraces and abundant natural light, with ceiling heights between 12 and 14 feet, Durst said.
The developer is working with global architecture firm HOK to overhaul the property to feature a new lobby and amenities space. It’s also installing new elevators and new cooling machines among building system upgrades.
The offering comes as industry professionals say availability of top‑tier office space in midtown has tightened to low single digits in corridors such as Park Avenue and Sixth Avenue, reinforcing what Vornado Realty Trust CEO Steven Roth has described as a landlord‑friendly market.
That supply‑demand imbalance has driven deep‑pocketed tenants to pay increasingly higher rents — recently pushing several new leases past the $320‑per‑square‑foot threshold in the flight-to-quality trend.
For the record
Leasing at 114 W. 47th is led by Durst’s Tom Bow, Eric Engelhardt, Rocco Romeo and Nora Caliban with CBRE’s Mary Ann Tighe, Evan Haskell, Charles P. Laginestra, Caroline Merck and Natalie Chung.