$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.
Asking rents in the tower at 51 W. 52nd St. are $115 per square foot. Colin Miller
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.