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new tenant will soon occupy the former bank space at 1251 Avenue of the Americas, paying just $5 million per year for the privilege. The nearly half-acre outdoor plaza, featuring a massive fountain, is set to become a hub for brand activations.

    "This is a store and stage," says Kenneth Hochhauser of Winick Realty Group, retail agent for the Mitsui Fudosan America-owned tower. "You can engage customers directly and program the space to drive social media engagement into the millions."

    The iconic red Christmas ornaments that adorn the fountain during the holiday season give way to a peaceful retreat for area workers throughout the year. The space can even be transformed into a soccer pitch.

    With an average of 80,000 people passing by daily on the sidewalk and hundreds of thousands traveling between Times Square and Rockefeller Center across the street, the potential for social media impressions is vast. "It's like being between Main and Main," notes Slater Traaen, senior director at MFA.

    The 5,346 square-foot ground floor space boasts 30-foot-high ceilings and expansive windows, while below grade lies an additional 15,068 square feet with 16-foot-high ceilings connecting to the underground network of Sixth Avenue and Rockefeller Center's dining and shopping concourses.

    As part of a larger transformation, two upscale restaurants and a flagship food hall are set to open soon. "We have a very special building," says John Kessler, CEO of MFA, which has owned the 54-story, 2.4 million-square-foot property since 1986. The tower's repositioning will be exciting for tenants and visitors alike.

    The fountain, the largest in Gotham, is a blank canvas waiting to be activated with brand promotions. "Imagine a Formula 1 Experience with cars on the fountain and all around the plaza," suggests Hochhauser. "The usage is up to the imagination and the laws of physics."