Loeb & Loeb represented the real estate firm Ivanhoé Cambridge in inking a long-term lease with each of Rupert Murdoch’s News Corporation and Fox Corp, which will extend their tenancy in 1211 Avenue of the Americas for another 20 years. The two separate leases that were signed recently by the corporations span approximately 1.2 million square feet of office space and retain the media giant’s headquarters in this Midtown Manhattan address.
The Loeb & Loeb deal team for this transaction included partner Raymond A. Sanseverino, chair of the firm’s Real Estate Department, partner Nichole D. Cortese, chair of the Commercial Real Estate Leasing practice, and senior counsel Talia Englander. The footprint of the Fox Corp lease makes it the top commercial real estate leasing deal executed in New York City in 2022 and the footprint of the News Corporation lease made it the second largest lease executed in New York City in 2022. Due to the size of the deals and their significance in the Manhattan office market, they were later selected as the winner of a 2023 CoStar Impact Award for lease of the year as judged by a panel of local real estate professionals.
As commercial real estate bounced back post pandemic, Loeb’s sophisticated Real Estate group has represented one of the parties to 4 of the 5 largest leases executed in 2022.
More information about the Fox Corp and News Corporation real estate leases can be found in a press release issued by Ivanhoé Cambridge. To read the full awards announcement, please visit CoStar's website.