The asking rate at 1285 Avenue of the Americas is between $80 and $85 per square foot, according to Jones Lang LaSalle.
UBS' lease reportedly expires at the end of 2020, but the terms include an extension and renewal options.
UBS' existing space covers the eighth through 20th floors. A source said the expansion includes a portion of the third floor, a retail portion on the ground floor, and storage space on several other floors.
Headquartered in Zurich and Basel, Switzerland, UBS employs more than 63,500 people worldwide with offices in over 50 countries. It has several offices in Manhattan, including 299 Park Ave.
Paul, Weiss, Rifkind, Wharton & Garrison and Bernstein Litowitz Berger & Grossman are also tenants at 1285 Avenue of the Americas.
CBRE's Robert Alexander, chairman of the New York tri-state region, served UBS and Jones Lang LaSalle's Peter Riguardi, president of the New York tri-state region, along with managing director John Ryan acted on behalf of the ownership.
@|To report a real estate transaction, contact jstorey@alm.com.
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