AmTrust Title Insurance Company announced it has signed a 10+-year expansion lease covering 13,771 square feet to occupy the entire 24th floor of 220 E. 42nd Street, aka the News Building.
“We launched as First Nationwide Title Agency with the a staff of 12 people five years ago, steadily grew to more than 50 employees over the course of four years, then catapulted in size following our acquisition by AmTrust Financial a year ago,” said Steve Napolitano, senior executive vice president of AmTrust Title. “We love the building, the location, the proximity to Grand Central Terminal, and are especially grateful that SL Green has made consistent efforts to accommodate our growth.”
“We are delighted to satisfy AmTrust’s on-going expansion,” said Steven Durels who added “this is the third relocation and expansion by AmTrust since 2012.”
While AmTrust Title is growing in New York, it is also rapidly expanding nationally, committed to the goal of establishing business in every State of the union by the end of 2018. Currently, AmTrust has Certificates of Authority to operate in 32 States.
Landmarked 220 E. 42nd Street, originally the headquarters for The New York Daily News, features the world’s largest indoor globe, made famous by the original Superman television series and feature films, the centerpiece of the building’s dramatic lobby.
Tara Stacom, Barry Zeller, Justin Royce and Matthias Li from Cushman & Wakefield represented the landlord. AmTrust plans a move-in date by the end of the year.
Among other prestigious tenants at the 37-story, 1.2 million-square foot Midtown East tower are Omnicom Group, WPIX TV, United Nations, Martin Clearwater & Bell and VNSNY.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2017, the Company held interests in 119 Manhattan buildings totaling 47.4 million square feet. This included ownership interests in 27.5 million square feet of Manhattan buildings and debt and preferred equity investments secured by 19.9 million square feet of buildings. In addition, the Company held ownership interests in 29 suburban buildings totaling 4.6 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. To be added to the Company's distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at (212) 594-2700.
About AmTrust Title Insurance Company
AmTrust Title is a wholly-owned subsidiary of AmTrust Financial Services, Inc. AmTrust Financial Services, Inc. is a Fortune 500 multi-national insurer, offering specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage. The AmTrust Group of Insurance carriers are rated “A” (Excellent), FSC “XV” by A.M. Best Company, and AmTrust Title is rated “A-“(Excellent) by A.M. Best Company and “A” (Exceptional) by Demotech. For AmTrust Title, this combination of strong financial backing and advanced technology translates into immediate strength for real estate clients.
