New York Insurance Firms Lease 57K SF
Ryan Specialty’s 10-Year Lease at 1185 Sixth One of the largest recent commitments at 1185 Avenue of the Americas came as Ryan Specialty signed a 10-year renewal and expansion lease for 29,166 square feet. The deal secures the international specialty insurance firm’s Manhattan presence through 2036. SL Green said the agreement replaces a shorter three-year arrangement tied to about 13,000 square feet on the 23rd floor. The new commitment marks the largest recent transaction at the property. Sixth Avenue/Rockefeller Center submarket vacancy was just 17 percent by 2023, underscoring strong momentum for well-located office towers. Ryan Specialty’s long-term structure contrasts with deals such as Sunland Park’s triple-net lease , which shifts operating costs like maintenance, insurance and taxes to the tenant. Expansion Signals Ryan Specialty now plans to occupy the entire 38th floor. That footprint is substantially larger than its 2024 space on the 15th floor and separate 23rd-floor prem...