NEW YORK CITY — RXR has inked a 700,000-square-foot office lease extension and expansion with global law firm Davis Polk & Wardwell LLP at 450 Lexington Avenue in Midtown Manhattan. The tenant has re-committed to the 40-story building, which was originally constructed in 1991, for the next 25 years and is taking an additional 30,000 square feet of space. The firm’s footprint now spans 23 floors. In conjunction with the deal, the locally based landlord also announced a $300 million renovation. Designed by Gensler, the project will include the full modernization of lobbies and the addition of numerous amenities. Renovations will also upgrade other common areas and the anchor tenant spaces. Lewis Miller, Andrew Sussman and Munish Viralam of CBRE represented Davis Polk & Wardwell in the lease negotiations. William Elder and Andrew Ackerman represented RXR on an internal basis.
At 700,000 square feet, the office lease extension and expansion signed by Davis Polk & Wardwell at 450 Lexington Ave. in Manhattan is the largest office deal in New York City in 2023, according to the brokerage team.
RXR Inks 700,000 SF Office Lease Expansion, Extension at 450 Lexington Avenue, Announces $300M Renovation
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