The Real Deal New York

Posts Tagged ‘Boston Properties’

  • From left: 1633 Broadway and FAO Schwarz at 767 Fifth Avenue

    From left: 1633 Broadway in Midtown and FAO Schwarz facade at the GM Building

    FAO Schwarz is in negotiations to move to Paramount Group’s 1633 Broadway office tower north of Times Square. [more]

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  • FAO Schwarz

    From left: Owen Thomas and FAO Schwarz at 767 Fifth Avenue in Midtown

    Boston Properties may work with FAO Schwarz to “expedite” the toy store’s transition out of the GM Building, the real estate investment trust said in its first-quarter earnings call Tuesday. [more]

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  • REIT executives

    From left: Owen Thomas, Steven Roth, Sam Zell and Marc Holliday

    The major New York-focused real estate investment trusts had a largely successful first quarter in 2015, with most outperforming both the MSCI US REIT Index and the S&P 500 Stock Index by some distance. [more]

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  • 601 Lexington Avenue

    601 Lexington Avenue

    International law firm Kirkland & Ellis has renewed its massive lease at the former Citigroup Center in Midtown, even though the contract doesn’t expire for another four years. [more]

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  • From left: Norges' Yngve Slyngstad, 1095 Sixth Avenue and Blackstone's Jonathan Gray

    From left: Norges’ Yngve Slyngstad, 1095 Sixth Avenue and Blackstone’s Jonathan Gray

    UPDATED, 1:21 p.m., Sept. 17: Fresh off the acquisition of a 45 percent stake in Boston Properties’ 601 Lexington Avenue, the sovereign fund that manages Norway’s substantial oil wealth is making a play for Blackstone Group’s 1095 Sixth Avenue, according to a source familiar with the talks. A deal for the tower, expected to fetch up to $2.25 billion, would be the biggest single office asset sale in New York since the GM Building traded hands in 2008. [more]

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  • Boston Properties' Mortimer Zuckerman and 601 Lexington Avenue

    Boston Properties’ Mortimer Zuckerman and 601 Lexington Avenue

    Norges Bank Investment Management, an arm of the central bank of Norway, has reached an agreement to purchase a 45 percent interest in 601 Lexington Avenue, along with equal shares in two Boston properties, from real estate investment trust Boston Properties for $1.5 billion in cash.

    Norges Bank is also picking up an equal interest share in Boston’s Atlantic Wharf Office Building and 100 Federal Street as part of the deal. Following the agreement, Norges Bank and Boston Properties will form a joint venture for each of the three properties, with the latter retaining property and leasing management. [more]

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  • 250 West 55th Street (center) and Mort Zuckerman

    250 West 55th Street (center) and Boston Properties’ Mort Zuckerman

    Qatari media giant Al Jazeera is swooping into Boston Properties’ spec office tower at 250 West 55th Street. Al Jazeera will take 86,000 square feet on three separate floors, a source familiar with the transaction told The Real Deal. [more]

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  • 250 West 55th Street

    250 West 55th Street

    WEEKENDEDITION Three firms have made deals to occupy a total of 23,265 square feet at the recently-built 250 West 55th Street.

    Veracen Partners, RTW Investments & LifeSci Capital and Coltrane Asset Management have each signed leases for 11,263 square feet, 7,196 square feet and 4,806 square feet, respectively, at the nearly one million square-foot office property at Eighth Avenue. All three companies will occupy a portion of the 16th floor of the 38-story office tower. [more]

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  • From left: 767 Fifth Avenue and Cartier 's former location

    From left: 767 Fifth Avenue and  Saks Fifth Avenue Cartier store

    French jeweler Cartier is taking 8,000 square feet at the GM Building for operations while its Fifth Avenue flagship gets a makeover.

    Cartier’s luxury collections will temporarily head to a 50-story, 1.82 million-square-foot tower at 767 Fifth Avenue starting Friday. [more]

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  • From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    UPDATED, 5:40 p.m., March 20: Money manager Baron Funds, founded by billionaire Ron Baron, is taking another 25,000 square feet at the GM Building, The Real Deal has learned. Along with the expansion on the 47th floor, Baron renewed its space on the 48th and 49th floors of the trophy tower. The fund firm will pay rents starting at just shy of $200 per square foot — and cross the rare $200 threshold over the course of the 20-year deal, sources said. [more]

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  • From left: Peter Turchin and 250 West 55th

    From left: Peter Turchin and 250 West 55th

    Boutique financial service provider Modern Bank has inked a deal for nearly 15,000 square feet at Boston Properties’ 250 West 55th Street.

    The bank is relocating from 667 Madison Avenue and will take 13,200 square feet on the 15th floor of 250 West 55th Street, at Eighth Avenue. Craig Reicher and Christie Harle of CBRE represented the bank, which specializes in leveraged finance, in the deal. [more]

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  • 399-park

    399 Park Avenue and Monday Properties CEO Anthony Westreich

    In the wake of Citigroup’s decision to move its global Park Avenue headquarters after many years, Midtown office landlords are concerned about the fate of the market in that once-dominant corridor. [more]

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  • From left: 250 West 55th Street, Mort Zuckerman and Times Square Tower at 7 Times Square

    From left: 250 West 55th Street, Mort Zuckerman and Times Square Tower at 7 Times Square

    Given the robust capital markets environment, Boston Properties will continue to market trophy assets — such as Times Square Tower — for sale or recapitalization in 2014, executives for the real estate investment trust said yesterday. [more]

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  • 250 West 55th Street (center) and George Soros

    250 West 55th Street (center) and George Soros

    Billionaire George Soros’ investment firm has taken just under 100,000 square feet at Boston Properties’ 250 West 55th Street. Soros Fund Management will take the spec office tower’s penthouse, on the 38th floor, and also floors 26 through 28 in the 15-year deal. [more]

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  • From left: Steve Roth, John Boehner and Mort Zuckerman

    From left: Steve Roth, John Boehner and Mort Zuckerman

    New York’s real estate titans, including Boston Properties’ chairman Mort Zuckerman and Vornado Realty Trust’s Steven Roth, sent a letter to top Washington D.C. leaders urging Congress to pass comprehensive immigration reform. [more]

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  • From left: John Powers and Robert Selsam

    From left: John Powers and Robert Selsam

    Boston Properties has tapped veteran CBRE Group broker John Powers to be the new head of its New York operations, replacing stalwart Robert Selsam who is retiring in January.

    Powers – who has worked closely with Boston Properties for several years and helped them design and lease their 1 million-square-foot tower at 250 West 55th Street — was a favorite to replace Selsam, who was at the helm of the real estate investment trust’s operations for nearly thirty years. [more]

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  • 250 West 55th Street (center) and Mort Zuckerman

    250 West 55th Street (center) and Mort Zuckerman

    Boston Properties has struggled to lease up its office tower at 250 West 55th Street in the Columbus Circle area, with the real estate investment trust needing to fill at least another 250,000 square feet before the building begins to turn a profit. [more]

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  • 250 West 55th Street (center) and Sheikh Ahmed bin Jassim Al Thani, director general of Al Jazeera

    250 West 55th Street (center) and Sheikh Ahmed bin Jassim Al Thani, director general of Al Jazeera

    Boston Properties is in talks to lease nearly 275,000 square feet of its new office tower on Eighth Avenue to two high-profile companies: Al Jazeera, the Middle Eastern news giant, and Soros Fund Management, the investment firm of billionaire George Soros. Al Jazeera wants up to 200,000 square feet at 250 West 55th Street; Soros is looking for 75,000 square feet at the top of the 38-story building. [more]

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  • GMBuildingFancyZhangZUckerman

    From left: Mort Zuckerman (inset), the GM Building and Zhang Xin (inset)

    General Motors has found a tenant for one of its last two remaining floors at the GM Building. The seven-year sublease deal for GM’s space will see Belgium-based Continental Grain Company, one of the world’s oldest food companies, take 38,100 square feet on the entire 15th floor of the 50-story, 2 million-square-foot building at 767 Fifth Avenue.

    The tower is owned by a partnership of Boston Properties and the families of Chinese magnate Zhang Xin and Brazilian banking titan Moise Safra. [more]

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  • From left: Greg Taubin, 510 Madison Avenue and Mort Zuckerman

    From left: Greg Taubin, 510 Madison Avenue (center) and Mort Zuckerman

    Hot on the heels of signing Canada’s pension fund and an investment firm, Boston Properties has sewed up two more full floors at its 510 Madison Avenue trophy tower, including the top floor — which commanded a starting rent of $130 per square foot, The Real Deal has learned from CompStak. [more]

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