Harbor Group Worldwide’s multimillion-dollar wager on the Black Rock constructing has paid off.
Worldwide regulation agency Alston & Fowl signed a 170,000-square-foot lease at HGI’s 51 West 52nd Road, also referred to as 51W52 and Black Rock, bringing the Midtown trophy tower to full occupancy.
The agency inked a 15-year deal for flooring 9 via 15 on the roughly 900,000-square-foot Class A workplace tower, based on an announcement from Newmark. It can relocate its New York workplace from 90 Park Avenue and develop its footprint by greater than 30 p.c. The asking lease was not disclosed.
A Newmark staff together with Howard Hersch, Greg Conen and Scott Klau represented the owner. A Savills staff together with Brad Wolk, Matthew Barlow and David Goldstein represented Alston & Fowl.
The lease marks a milestone for HGI, which acquired the 38-story property in 2021 from ViacomCBS for $760 million and has since poured about $128 million into enhancements geared toward attracting top-tier tenants. The upgrades embrace a revamped foyer, a brand new amenity middle dubbed Membership 53 and food-and-beverage companies.
“This validates our robust religion within the resilience of the New York workplace market, particularly for the very best trophy properties in the very best places,” HGI Chairman and CEO Jordan Slone stated in an announcement.
The deal provides one other knowledge level to Manhattan’s bifurcated workplace market, the place trophy and Class A towers proceed to draw tenants whereas older properties wrestle with vacancies. Legislation corporations, particularly, have been among the many most lively occupiers of premium workplace house, serving to drive leasing exercise throughout Midtown.
Legislation corporations leased 3.74 million sq. toes of Manhattan workplace house throughout 115 transactions in 2025, a 17.8 p.c enhance year-over-year and a brand new annual file by greater than 30 offers, based on Colliers.
The darkish granite tower with tinted glass home windows was designed by architect Eero Saarinen, accomplished in 1965 and later grew to become a delegated landmark. The 2021 sale was the primary time the constructing had modified arms. Different tenants within the tower embrace regulation corporations Orrick, Herrington & Sutcliffe and Wachtell, Lipton, Rosen & Katz, and the Kroll Bond Score Company.
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