Law Firm DLA Piper, Insurance Group Ascot Ink Deals at 1251 Avenue of the Americas

By Mark Hallum

Two office tenants at Mitsui Fudosan America’s 1251 Avenue of the Americas are extending or expanding their footprints, Commercial Observer has learned.

Law firm DLA Piper 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 251,600 square feet at the property between West 49th and West 50th streets after it renewed its existing 210,000-square-foot space on the 24th through 28th floors.

Meanwhile, insurance company Ascot Group 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.

Asking rent for Ascot’s space was $150 per square foot, while the asking rent for DLA Piper’s deal was $140 per square foot, according to the source.

Newmark‘s David Falk, Pete Shimkin, Eric Cagner and Claire Koeppel are exclusive leasing agents for the 54-story office tower, but declined to comment.

CBRE‘s 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.

CBRE did not immediately respond to a request for comment on the DLA Piper deal and declined to comment on Ascot.

Other recent deals at 1251 Avenue of the Americas include a 41,600-square-foot lease for alternative investing firm LGT Capital Partners in May and an expansion to 80,200 square feet for Trust Company of the West in November 2025.

Mark Hallum can be reached at mhallum@commercialobserver.com