1180 Avenue of the Americas
1180 Ave of the Americas
1180 Avenue of the Americas is a 396,800sf building located on the northeast corner of 46th Street and Avenue of the Americas, one of the most prestigious corporate corridors in the world.
Murray Hill Properties purchased the building with our partner, The Carlyle Group in May, 2007. Our goal was to reduce the overall number of tenants by opting for full floor tenants, and in particular, those with better credit ratings and as a by-product, collect higher rents where possible.
At the time of purchase, Scripps Networks, the parent company to HGTV, The Food Network, DIY Network among many others was located on the 11th, 12th, 16th and 17th floors. An Executive Suites tenant was located on the 14th and 15th floors. When the Suites tenant’s lease expired, we offered the space to Scripps. Eventually a deal was struck to slide Scripps down to the 14th and 15th floors at new higher rents, giving them 4 contiguous floors with internal staircases. It also gave us added value because we then were left with two higher floors.
At the time of purchase we had 26 tenants. At present we have 16 tenants.
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