1301 Avenue of the Americas (also known as the Crédit Agricole CIB Building; formerly the Crédit Lyonnais Building and the J.C. Penney Building) is a 609 ft (186m) tall skyscraper in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five Boroughs of New York City, boroughs of New York City. The borough is also coextensive with New York County, one of the List of co ...

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the U ...

. It is located on the west side of

Sixth Avenue Sixth Avenue – also known as Avenue of the Americas, although this name is seldom used by New Yorkers, p.24 – is a major thoroughfare in New York City's borough of Manhattan, on which traffic runs northbound, or "uptown". It is commercial ...

(Avenue of the Americas) between 52nd and 53rd Streets.

History

The building was developed by Uris Buildings Corporation and was completed in 1964 and has 45 floors. Uris purchased the parcel on the west side of the Avenue of the Americas from the Astor trust for $9 million in January 1964 (equivalent to $ million in ). Shreve, Lamb & Harmon Associates designed the building, which is the 123rd tallest in New York City.

J. C. Penney Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is a midscale American department store chain operating 667 stores across 49 U.S. states and Puerto Rico. Departments inside JCPenney stores include Mens, Womens, Boys, Girl ...

was the initial anchor tenant, occupying over of space across 33 floors after moving from 330–348 West 34th Street. By 1974, the company occupied over of the building. J. C. Penney purchased the building for $55 million in 1977 (equivalent to $ million in ) to serve as its new headquarters. By 1978, J. C. Penney had moved over 5,000 employees into the building. However, in 1988 J. C. Penney announced its intentions to move their headquarters to Dallas, leaving the building empty and up for sale. In May 1988,

Tishman Speyer Tishman Speyer Properties is an American company that invests in real estate. History The firm was founded in 1978 by Robert Tishman and Jerry Speyer. In March 1988, the company announced its first project in Europe, the construction of a 70 ...

and

Trammell Crow Company Trammell Crow Company is a real estate development, investment, and property management company. It has been a subsidiary of CBRE Group since 2006. History The company was founded by Trammell Crow in 1948. In June 2006, the company announced ...

bought the empty tower at auction for $353 million (equivalent to $ million in ) and began an ambitious renovation. The companies brought on a consortium of pension funds as equity partners and received a $600 million loan from the Japanese

Sanwa Bank was a major Japanese bank headquartered in Osaka, which operated from 1933 to 2002. It merged with Tokai Bank to form UFJ Bank (now part of MUFG Bank). In the 1990s, it was the most profitable bank in the world, and second-largest in terms of a ...

. The new owners embarked on a renovation plan designed by

Skidmore, Owings & Merrill Skidmore, Owings & Merrill (SOM) is an American architectural, urban planning and engineering firm. It was founded in 1936 by Louis Skidmore and Nathaniel Owings in Chicago, Illinois. In 1939, they were joined by engineer John Merrill. The firm ...

that involved asbestos removal, a new color scheme for the facade, the expansion and redesign of the lobby and the creation of a new plaza with new paving, seating, plants and sculpture. It is named for the Calyon Corporation which resulted from the merger of Crédit Agricole Indosuez and the corporate and investment banking division of the

Crédit Lyonnais The Crédit Lyonnais (, "Lyon Credit ompany) was a major French bank, created in 1863 and absorbed by former rival Crédit Agricole in 2003. Its head office was initially in Lyon but moved to Paris in 1882. In the early years of the 20th cent ...

corporation as a result of the takeover of the latest by Crédit Agricole S.A. in 2002. Calyon was since renamed

Credit Agricole Corporate and Investment Bank Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt) ...

in 2010. It used to serve as the headquarters of

PricewaterhouseCoopers PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four account ...

before they moved to 300 Madison Avenue. It is now Credit Agricole CIB's US headquarters. In October 2016, Paramount Group received $850 million to refinance the building from

AXA Equitable Holdings Equitable Holdings, Inc. (formerly The Equitable Life Assurance Society of the United States and AXA Equitable Life Insurance Company, and also known as The Equitable) is an American financial services and insurance company that was founded in 1 ...

MetLife MetLife, Inc. is the Holding company, holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, Annuity (US financial produc ...

and

New York Life Insurance Company New York Life Insurance Company (NYLIC) is the third-largest life insurance company in the United States, the largest mutual life insurance company in the United States and is ranked #67 on the 2021 Fortune 500 list of the largest United States ...

Tenants

The building's other tenants include public accounting firm CohnReznick, the law firm Norton Rose Fulbright, the law firm

Wilson Sonsini Goodrich & Rosati Wilson Sonsini Goodrich & Rosati is an American international law firm that specializes in business, securities, and intellectual property law. Headquartered in Palo Alto, California, the firm provides legal services to technology, life sciences ...

, and

Barclays Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces ...

. At one time RJR Nabisco had its headquarters in the building. After RJR Nabisco was separated, Nabisco Group Holdings Corp. had its headquarters in Calyon.Shareholder Services
" Nabisco Group Holdings. February 8, 1999. Retrieved on December 2, 2011. "Corporate Offices: Nabisco Group Holdings Corp. 1301 Avenue of the Americas New York, NY 10019"

References

External links

*
EmporisSkyscraperpage
{{Midtown North, Manhattan Skyscraper office buildings in Manhattan Midtown Manhattan Sixth Avenue Office buildings completed in 1964 1964 establishments in New York City

History

Tenants

See also

References

External links