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Posts Tagged ‘51 Astor Place’

  • 51 Astor Place and Edward Minskoff

    51 Astor Place and Edward Minskoff

    From the April issue: When developer Edward Minskoff set out to build a new office tower in the East Village, with asking rents ranging from just under $90 to $120 per square foot — roughly double the average in the surrounding area — many in the industry questioned his logic. And for good reason. [more]

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  • From left: 51 Astor Place and Edward Minskoff

    From left: 51 Astor Place and Edward Minskoff

    Edward Minskoff is closing in on a fully-leased 51 Astor Place, as negotiations for the remaining two floors of the property near a deal. [more]

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  • From left: 51 Astor Place and Edward Minskoff

    From left: 51 Astor Place and Edward Minskoff

    Claren Road Asset Management, a credit-focused money manager that is a subsidiary of private equity giant the Carlyle Group, will take the top floor of Edward Minskoff’s 51 Astor Place, The Real Deal has learned. The 25,401-square-foot space was asking a rent of $118 per square foot, a record for Midtown South. Sources familiar with the transaction said that it was likely the priciest per-square-foot deal struck in the neighborhood. [more]

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  • Twitter lands Chelsea HQ

    January 23, 2014 12:31PM
    From left: Twitter logo, 245 and 249 West 17th Street

    From left: Twitter logo, 245 and 249 West 17th Street

    Wasting no time after missing the boat at Edward Minskoff’s 51 Astor Place, where IBM recently edged them out as anchor tenant, social media giant Twitter has leased digs for a new New York City headquarters in Chelsea. [more]

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  • From left: 51 Astor Place and IBM's Watson Computer

    From left: 51 Astor Place and IBM’s Watson Computer

    Computer giant IBM is heading to the East Village, along with 2,000 employees and a “Jeopardy computer.” [more]

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  • From left: 51 Astor Place and Edward Minskoff

    From left: 51 Astor Place and Edward Minskoff

    St. John’s University has inked a deal for 71,000 square feet at Edward Minskoff’s 51 Astor Place. [more]

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  • From left: Twitter logo and 51 Astor Place

    From left: Twitter logo and 51 Astor Place

    Social media behemoth Twitter, fresh off a successful stock offering, is eyeing a move to Edward Minskoff’s 51 Astor Place. [more]

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  • From left: 51 Astor Place and Edward Minskoff

    From left: 51 Astor Place and Edward Minskoff

    Online vintage goods auctioneer 1stdibs has inked a deal for the first lease at 51 Astor Place, Edward Minskoff’s new construction office building in Midtown South. [more]

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  • 51-astor-jll

    51 Astor Place and Jones Lang LaSalle’s Peter Riguardi

    You can’t say 51 Astor Place doesn’t have potential. Tech titans Facebook and Microsoft were eyeing moves to the 400,000-square-foot office building, between Third and Fourth avenues in the Midtown South office market, before opting to relocate elsewhere, the Wall Street Journal reported. Alas, a major tenant is yet to sign at the massive project, built on speculation by developer Edward Minskoff. [more]

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  • 51-astor

    51 Astor Place rendering

    St. John’s University is steps away from signing a lease for two of the base floors of the 400,000-square-foot 51 Astor Place in Midtown South, the New York Post reported. [more]

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  • 51-Astor-Place-lo-russo

    51 Astor Place (Inset: Ron Lo Russo)

    A glut of newly constructed office space caused Manhattan’s availability rate to rise in the first half of the year, despite moderate leasing activity that exceeded the level at the same time last year, a report released this morning by commercial services firm Cushman & Wakefield shows. [more]

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  • Fumihiko Maki, Paul Glickman and 51 Astor Place

    Clockwise from top left: 51 Astor Place architect Fumihiko Make, a rendering of 51 Astor Place and leasing agent Paul Glickman of Jones Lang LaSalle

    Despite tough times for office leasing, Edward Minskoff’s luxury office tower at 51 Astor Place — set to premiere in May — will still ask rents as high a $115 per square foot, the New York Times reported. The developer is hoping the neighborhood’s quirkiness will attract technology companies. [more]

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  • From left: 52 Cooper Square, a Muji store and 51 Astor Place

    Japanese enviro-retailer Muji will lease an 8,600-square-foot space at 52 Cooper Square, in the East Village, for a ten-year term, brokers for the building’s landlord told The Real Deal today. Henry Goldfarb and Stanley Lindenfeld, brokers with commercial firm Lee & Associates, said impending changes in the area spurred Muji’s decision. [more]

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  • A rendering of 51 Astor Place

    With new projects such as 51 Astor Place and the Hyatt Union Square, Fourth Avenue is being reincarnated as a high-end neighborhood, the Wall Street Journal reported. The Hyatt Union Square, which is yet to announce an opening date, will offer 178 upscale rooms and suites starting at $319 a night. It is located at East 13th Street, north of the Fumihiko Maki-designed 51 Astor Place, a 13-story mixed-use office and school building being developed by Minskoff Equities. Those familiar with the area, however, say that the transformation has been in the works for a while. … [more]

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  • From left: 1 World Trade Center, 4 World Trade Center and 51 Astor Place

    Manhattan’s slumping office market is about to be delivered a huge blow next year, according to the Wall Street Journal, when 6 million square feet of new office space will be delivered to the market — the most since 1989.

    The unsteady global economy and the compression of the financial services industry have hampered demand for office space in recent quarters. [more]

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  • More details revealed at 51 Astor Place

    February 15, 2012 03:30PM

    A rendering of 51 Astor Place

    Edward Minskoff’s ambitious 51 Astor Place project now has a website, Curbed noticed, and it reveals the juicy details of the development, including additional renderings.

    The 12-story Fumihiko Maki-designed office building will offer two roof decks and an outdoor plaza with an Alexander Calder sculpture. The lobby will have an art installation “constructed of back-lit cast glass, which complements the building’s overall design,” Curbed noted. Perhaps that shouldn’t be a surprise given Minskoff’s notable 20th century art collection[more]

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  • From left: renderings of 250 West 55th Street, Manhattan West and 51 Astor Place

    The city’s low office vacancy rates and slowly rising rents are overshadowing a disturbing office leasing trend, according to the New York Post. Ground-up office projects have been unable to secure major tenants, which in turn has stifled development.

    Yesterday’s news that Silverstein Properties might cap off 3 World Trade Center at seven stories because of its inability to land a tenant, is just the most recent example. [more]

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  • Open-plan office spaces command big rents

    December 14, 2011 06:25PM

    Airy, open-plan office spaces, once seen as difficult to rent, are commanding some of the highest office rents in Manhattan since the recession, the New York Times reported, some more than $100 a square foot. These spaces, with dramatic city views, can be found in Midtown towers like 499 Park Avenue and 250 West 55th Street, the Times said, as well as downtown at 1 and 3 World Trade Center, now under construction.

    Also desirable for their floor plans are buildings like 51 Astor Place, 28-40 West 23rd Street and 30 Rockefeller Center, where investment company Lazard is redesigning its 430,000 square feet on the top floors.

    “Constantly now, we see firms wanting to build dramatic space,” said Peter Turchin, an executive vice president at CBRE. … [more]

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  • Edward Minskoff and a rendering of 51 Astor Place

    Edward Minskoff’s Minskoff Equities has closed on a construction loan valued at between $165 and $200 million with Bank of America for 51 Astor Place, the real estate company’s new office development near Cooper Union, the New York Observer reported.

    Minskoff is confident in the success of the 400,000-square-foot property, which is slated to be completed by 2013, he said, despite not having signed any tenants so far.

    “It will surpass the Bank of America building [at One Bryant Park] in some ways,” he said. To some brokers, rents at 51 Astor Place, which will range from about $88 to $115 per square foot, the Observer said, seem a little high. … [more]

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  • State authorities reached a deal with the city and the United Nations to revive stalled plans for a $340 million new U.N. tower earlier this month, the New York Observer reported. That means that Japanese architect Fumihiko Maki, who was selected to design the building when the idea first emerged in 2004, will be dusting off his blueprints alongside local partners architecture firm FXFowle and getting back to work.

    “We have a saying around the office,” Dan Kaplan, a principal at FXFowle, told the Observer. “It takes a long time for things to happen suddenly.”

    Much of the design work has already been completed for a 35-story tower on the site at the southeast corner of First Avenue and 42nd Street, but it will require some changes, Kaplan said.  … [more]

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