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New York

Lofty aspirations for 7 Bryant Park

Developer Hines hopes to get $200 per square foot for triplex penthouse with roof terrace

In the case of 7 Bryant Park, the new office tower by Hines, there’s a ring of truth in the expression: “Prices are going through the roof.”

Hines, according to the New York Post, is looking to command $200 per square foot for the 42,285-square-foot penthouse triplex at the top of the 28-story tower, on Sixth Avenue between 39th and 40th streets. The space comes with an alfresco roof terrace of just under 850 square feet “that has Bryant Park for its backyard,” Tommy Craig, a senior executive at Hines, told the Post.

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Craig added that outdoor space traditionally had not been a priority in office towers, because the developer and tenants hadn’t valued it, but was coveted in Hines’ residential buildings, including the newly launched 56 Leonard, which is being developed with Izak Senbahar’s Alexico Group. A surge in demand by businesses for “common and interactive-encounter space” Craig said, led Hines to invest in the sprawling roof space at the new 457,000-square-foot tower, set to open in 2015.

CBRE’s Mary Ann Tighe, the chief leasing agent for the tower, dubbed the roof terrace the “first purpose-built outdoor space in an office building in Midtown.” [NYP]  –Hiten Samtani