The Real Deal New York

Giant National Geographic exhibit setting up shop in Kushner’s Times Square retail condo

Immersive whale exhibit will claim 59K sf at 229 West 43rd St.

June 29, 2016 09:31AM

229 West 43rd Street and Jared Kushner

229 West 43rd Street and Jared Kushner

A planned miniature world in Times Square is a getting some very large new neighbors.

Times Square Attractions Live, LLC inked a 15-year lease for 59,137 square feet at 229 West 43rd Street, a retail condo owned by Jared Kushner’s Kushner Cos., the New York Post reported. The group plans to bring a massive National Geographic-branded “immersive experience” to the multi-level space by next summer.

Earlier this year, Kushner inked a deal with Michael Langer’s E&M Associates to build a 49,000-square-foot miniature world known as Gulliver’s Gate at the Times Square building, which is located between Broadway and Eighth Avenue.

Times Square Attractions Live is a partnership between SPE Partners, a New York City-based entertainment developer led by longtime National Geographic employee Lisa Truitt, and Peterson Companies, a Washington, D.C.-based development firm led by Milton Peterson. His son, Jon Peterson, is a strategic partner of Times Square Attractions Live.

The rent was not disclosed, but ground-floor asking rents in the area are $2,363 per square foot, the Post reported.

CBRE’s Eric Gelber represented Times Square Attractions and previously represented Foot Locker in its lease at 8 Times Square.

Kushner’s Morris Harary, Larry Rabinowitz and Ira Bloom negotiated the deal in-house for the developer, which signed up Gulliver’s Gate for a 49,000-square-foot space earlier this year.

Kushner bought the retail condo from Africa-Israel USA and Five Mile Capital for $296 million in 2015. [NYP] – E.B. Solomont

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