- Savills leased the full 20,481 SF third floor at Rudin’s 560 Lexington Ave., just blocks from its U.S. headquarters at 399 Park Ave.
- The 380,000 SF tower has signed more than 110,000 SF in 2026 with tenants including Corpay, Marex and Dynasty Equity.
- Manhattan office vacancy fell 300 basis points year-over-year to 13.1% as of April, a sign of tightening high-quality supply, per Yardi Matrix.
Savills has leased the entire 20,481 SF third floor at Rudin’s 560 Lexington Ave., a Manhattan office tower, expanding its New York City footprint just blocks from its U.S. headquarters at 399 Park Ave., according to Commercial Search. The real estate advisory firm self-represented in the deal.
The lease adds to a strong year for the 22-story tower, which has now signed more than 110,000 SF across multiple tenants in 2026, underscoring how quickly well-located Midtown East space is filling back in.
Get Smarter About What Matters in New York
Subscribe to our free newsletter covering the biggest commercial real estate stories across the five boroughs — delivered in just 5 minutes.
Growing Its Own Backyard
The move is notable because Savills isn’t just an outside tenant chasing space. It’s also expanding its own real estate footprint in the city where it advises other companies on leasing decisions. Taking a full floor near its headquarters lets the firm consolidate staff. It also gives Savills a live example to show clients considering similar commitments.
The expansion comes as Savills absorbs its largest deal in years. The firm acquired investment-sales giant Eastdil Secured for $1.1 billion earlier this year. The deal expanded the combined firm’s footprint to more than 70 countries. It also added significant capital-markets strength to Savills’ leasing and advisory business.
The Details
The 380,000-square-foot, 22-story building at 560 Lexington Ave. was completed in 1980. It holds LEED Silver certification. Amenities include an indoor/outdoor terrace with food service, a multipurpose conference room, and ground-floor retail.
This year’s tenant roster also includes Corpay, Marex, SummitTX, Dynasty Equity, and Ally Bridge Group. The mix includes several financial and investment firms attracted to the building’s proximity to Grand Central.
Rudin handled its side of the deal with Kevin Daly and Craig Panzirer. CBRE represented the landlord alongside a team led by Brett Shannon. Savills’ expansion follows its $1.1 billion Eastdil Secured acquisition, which expanded its global footprint while maintaining headquarters in New York, Santa Monica, and London.
Zooming Out
The deal lands amid a broader Manhattan office recovery. Vacancy fell 300 basis points year-over-year to 13.1% in April, according to Yardi Matrix. It follows a record leasing quarter for law firms and other professional-services tenants competing for quality space.
Other recent deals include Capital Group’s 70,400-square-foot lease at Rudin’s 345 Park Ave. Mercor also committed to 25,550 square feet at One World Trade Center. Both deals show strong competition for well-located office space from financial firms, tech companies, and AI businesses.
Why It Matters
The lease shows how demand is concentrating in well-located, amenity-rich buildings. Older office stock continues to lag. That trend is also widening the trophy office rent gap across Manhattan.
For tenants, the deal also signals tighter competition for full-floor space in Midtown. Firms seeking a single contiguous floor have fewer options as vacancy falls. Brokers say tenants are increasingly moving faster to secure quality space rather than risk losing it to competing bidders.
What’s Next
560 Lexington Ave. has already surpassed 110,000 square feet in signed deals this year. Watch whether Rudin can maintain that pace into 2027 as professional-services firms compete for remaining space.
Tighter Manhattan vacancy could also push asking rents higher for comparable full-floor blocks. Brokerages may follow Savills’ lead by securing space near existing hubs instead of relocating.
