NYC Office History: Largest Lease Ever

New York, SL Green Realty Corp. reported that Viacom Inc. has renewed its commitment at 1515 Broadway by extending and expanding the company’s occupancy at the iconic Times Square tower through 2031. The headquarters lease covers 1.4 million sq ft. Viacom’s future expansion is slated to cover the balance of the 1.6 million-square-foot building’s office space after 2020. One of the world’s largest media companies, Viacom is synonymous with Times Square resulting from its longstanding presence and highly visible broadcast studio overlooking the bow-tie of the square.

The transaction reported today is believed to be the largest-ever New York City office lease other than a few sale-leaseback arrangements.

This record breaking lease follows right on the heels of a recently closed $775 million first mortgage refinancing by Bank of China.