Why ING Group's Office Expansion Signals Growth in Manhattan's Market

ING Group's Expanding Presence in Manhattan

In a significant development for the commercial real estate sector in New York City, ING Group has renewed and expanded its lease at the 1133 Avenue of the Americas, a tower owned by the Durst Organization. This strategic move will see ING’s total office space grow from 132,400 square feet to 153,915 square feet, spanning the seventh through eleventh floors of the prestigious building. This expansion positions ING as a major tenant in one of Manhattan's most sought-after office locations.

The Demand for Office Space in Manhattan

This lease deal is one of the largest finalized leases in November 2025, second only to Baruch College's lease for 162,300 square feet. Commentary from Durst Organization’s President, Jody Durst, highlighted that this expansion underlines the ‘strong leasing momentum’ in the area, particularly within the Bryant Park submarket—a hub of activity for various businesses.

Trends in the Office Real Estate Market

The timing of this lease reflects broader trends in the Manhattan office market. With Manhattan’s office vacancy rate falling to 13%—a significant decrease from the previous year—there is a growing demand for quality office space. This trend indicates a sustained recovery in the commercial real estate sector as companies prioritize high-quality work environments to attract and retain top talent.

Inside 1133 Avenue of the Americas

The 1.1 million-square-foot, 45-story Class A tower, which underwent renovations in 2016, boasts LEED Gold certification—a testament to its sustainable design and modern amenities. Tenants enjoy high-end features including a grand travertine lobby, an outdoor plaza with landscaped green roofs, and cutting-edge elevator systems. These attributes solidify the building's appeal as a prime location for corporations.

Future Implications for Corporate Leasing

As firms like ING continue to expand their office footprints in Manhattan, it signals a potential trend where businesses look to consolidate and upgrade their workspaces. The focus on sustainability, location desirability, and high-quality amenities positions office real estate investments as a resilient strategy moving forward.

Understanding the factors influencing these expansions can provide valuable insights into commercial real estate opportunities. Observers in the industry should keep a close eye on the evolving dynamics between large tenants and leasing trends in prime locations.