The United Nations (UN) recently renewed and expanded its long-term office lease in Manhattan, N.Y. Newmark Group, Inc. (Newmark) Executive Managing Director, Jim Saunders, and Head of New York Consulting, Jason Perla, represented the UN in the negotiations.
The new lease encompasses 425,190 square feet of New York City office space, thereby consolidating and expanding the UN’s local footprint to occupy nearly all of the office space at 2 UN Plaza on floors 2 through 26.
Additionally, the deal includes a two-story retail component at 1 United Nations Plaza to bring together operations that were previously split between 1 and 2 UN Plaza. With that, it creates a unified headquarters above the ground-floor retail and beneath the Millennium Hilton One UN Plaza.
“This landmark transaction reaffirms the UN’s deep-rooted commitment to New York City as its global diplomatic hub,” Saunders said. “We are proud to have advised on this project, which will ensure further improvements to operational efficiency and UN staff support.”
United Nations Development Corporation — a state-established public benefit corporation created in 1968 to help the United Nations with its real estate, office space, and development needs — has been running a $500 million capital improvement program across both 1 and 2 UN Plaza. The renovations include upgrades to infrastructure, lobby space, new building systems, elevated security, and sustainability features.
One United Nations Plaza was built in 1977 and incorporates 358,000 square feet — including more than 5,300 square feet of retail — across 39 stories. The property previously underwent a thorough renovation in 2014.
One United Nations Plaza incorporates 358,000 square feet of office space in Midtown Manhattan.
Two United Nations Plaza was completed in 1984 and is slightly larger, encompassing 369,000 square feet, also across 39 stories. In addition to generous floor plates larger than 14,600 square feet, the property features six passenger elevators and electrical fail-over protection (redundant power). Both high-rise towers also feature above-standard ceiling heights and offer unobstructed views of the East River and the Manhattan skyline, as well as highly convenient access to Midtown Manhattan transit and a wide variety of amenities in the immediate area.
The office tower at Two United Nations Plaza rises 39 stories into the Midtown Manhattan skyline.
