The Real Deal New York

GM Building 100% leased after BlueCrest deal

August 27, 2013 02:40PM


767 Fifth Avenue and Mort Zuckerman

UPDATED, Aug. 28, 10:22 a.m.: The General Motors Building is fully leased, now that BlueCrest Capital Management has signed for the last 38,000 square feet up for grabs.

In a 10-year deal, the financial firm agreed to occupy the full ninth floor at the 50-story, 2 million-square-foot building at 767 Fifth Avenue. Asking rents on the floor were $105 per square foot. CBRE Group brokers Zachary Freeman and John Maher represented the Boston Properties-led partnership that owns the building. Studley broker Daniel Posy represented the tenant.

BlueCrest currently operates out of Sheldon Solow’s 9 West 57th Street, which is largely vacant in its base floors, according to Crain’s. In May, the Brazil-based Banco Itaú took space at both buildings, paying just under $200 per square foot for both spaces, as previously reported. [Crain’s]Mark Maurer