Charles Schwab Renews 23,000 SF Lease at 1133 Avenue of the Americas

New York, NY (July 15, 2024) The Durst Organization today announced that Charles Schwab & Co. (NYSE: SCHW) has renewed the company’s lease for 23,000 square feet on the 37th floor of 1133 Avenue of the Americas for an additional 11 years. Schwab has been a tenant at 1133 Avenue of the Americas since 2014.

“The decision by Charles Schwab to recommit to 1133 Avenue of the Americas underscores their trust and satisfaction in the building including its prime location in the Bryant Park submarket,” said Jody Durst, President of The Durst Organization.

Charles Schwab & Co., a leading financial services firm known for its innovative approach to investing and brokerage services, introduced discounted commissions and pioneered online trading platforms, revolutionizing the industry. Offering a wide range of financial products and services, including wealth management and retirement planning, Schwab remains committed to empowering individual investors with accessible and transparent financial solutions.

The Bryant Park submarket (West 40th to 44th Streets, between 5th and 6th Avenues) has seen much lower office availability compared to the rest of Manhattan. The large Class A office towers in the district have only 6% vacancy, among the lowest in the city. The upper floors of those Class A towers (above the 28th floor) have only 2% availability. New blocks of space are rare to open up given the area’s desirability.

With a limestone façade and sleek modernist lines, 1133 Avenue of the Americas is a distinctive presence overlooking Bryant Park. Durst invested $40 million in capital improvements for the enhancement of the soaring travertine lobby accented by a striking LED sculpture by Leo Villareal, destination dispatch elevator controls, new elevator cab interiors, a new heating plant, and a newly landscaped outdoor plaza. Other property features include 5,000 square feet of green roofs and exclusive landscaped terraces. 1133 is certified LEED Gold. The 1.1 million-square-foot Class A tower is 45 stories tall, located on Avenue of the Americas between West 43rd and 44th Streets in the heart of Midtown.

Other tenants at 1133 Avenue of the Americas include Interactive Brokers, which recently leased an entire floor in the building, ING Financial Holdings, Patterson Belknap Webb & Tyler, Take 2 Interactive, the National Basketball Players Association, and Steinway & Sons.

The Durst Organization was represented in house by Tom Bow, Rocco Romeo, and Nora Caliban.