{"id":329633,"date":"2026-08-25T22:26:20","date_gmt":"2026-08-25T22:26:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/329633\/"},"modified":"2026-08-25T22:26:20","modified_gmt":"2026-08-25T22:26:20","slug":"law-firm-dla-piper-insurance-group-ascot-ink-deals-at-1251-avenue-of-the-americas-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/329633\/","title":{"rendered":"Law Firm DLA Piper, Insurance Group Ascot Ink Deals at 1251 Avenue of the Americas \u2013 Commercial Observer"},"content":{"rendered":"<p>Two office tenants at <a href=\"https:\/\/commercialobserver.com\/company\/mitsui-fudosan-america\/\" title=\"Mitsui Fudosan America\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Mitsui Fudosan America<\/a>\u2019s 1251 Avenue of the Americas are extending or expanding their footprints, Commercial Observer has learned.<\/p>\n<p>Law firm <a href=\"https:\/\/commercialobserver.com\/company\/dla-piper\/\" title=\"DLA Piper\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">DLA Piper<\/a> expanded by 41,600 square feet on the entire 29th floor of the Midtown building with an 8.5-year term, bringing the law firm to a total of 210,000 square feet at the property between West 49th and West 50th streets.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/08\/genius-sports-vornado-1290-avenue-of-the-americas-lease\/\" rel=\"nofollow noopener\" target=\"_blank\">Sports Tech Firm Genius Sports Moves U.S. HQ to Vornado\u2019s 1290 Avenue of the Americas<\/a><\/p>\n<p>Meanwhile, insurance company <a href=\"https:\/\/commercialobserver.com\/company\/ascot-group\/\" title=\"Ascot Group\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Ascot Group<\/a> signed a 12-year extension for its 44,100-square-foot offices on the entire 43rd floor, according to sources familiar with the deal. Ascot was previously subleasing the space.<\/p>\n<p>Asking rent for Ascot\u2019s space was $150 per square foot, while the asking rent for DLA Piper\u2019s deal was $140 per square foot, according to the source.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/newmark\/\" title=\"Newmark\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Newmark<\/a>\u2018s David Falk, Pete Shimkin, Eric Cagner and Claire Koeppel are exclusive leasing agents for the 54-story office tower, but declined to comment.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/cbre\/\" title=\"CBRE\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">CBRE<\/a>\u2018s John Nugent and Alexander Golod negotiated on behalf of Ascot, while a separate CBRE team of Mike Wellen and Ken Rapp handled the deal for DLA Piper.<\/p>\n<p>CBRE did not immediately respond to a request for comment on the DLA Piper deal and declined to comment on Ascot.<\/p>\n<p>Other recent deals at 1251 Avenue of the Americas include a 41,600-square-foot lease for alternative investing firm LGT Capital Partners <a href=\"https:\/\/commercialobserver.com\/2026\/05\/lgt-capital-partners-lease-1251-avenue-of-the-americas\/\" rel=\"nofollow noopener\" target=\"_blank\">in May<\/a> and an expansion to 80,200 square feet for Trust Company of the West <a href=\"https:\/\/commercialobserver.com\/2025\/11\/mitsui-fudosan-200k-sf-1251-avenue-of-the-americas\/\" rel=\"nofollow noopener\" target=\"_blank\">in November 2025<\/a>.<\/p>\n<p>Mark Hallum can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/08\/dla-piper-ascot-group-leases-1251-avenue-of-the-americas\/mailto:mhallum@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Two office tenants at Mitsui Fudosan America\u2019s 1251 Avenue of the Americas are extending or expanding their footprints,&hellip;\n","protected":false},"author":2,"featured_media":329634,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[26043,123962,26046,26047,26050,123963,103942,2361,75,84,83,123964,9,24,63,2362,123965],"class_list":["post-329633","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-1251-avenue-of-the-americas","tag-alexander-golod","tag-claire-koeppel","tag-david-falk","tag-eric-cagner","tag-john-nugent","tag-ken-rapp","tag-leases","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-mike-wellen","tag-new-york","tag-new-york-city","tag-nyc","tag-office-leases","tag-pete-shimkin-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/329633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=329633"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/329633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/329634"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=329633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=329633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=329633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}