The Real Deal New York

Posts Tagged ‘Boston Properties’

  • 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]

    Comments
  • 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]

    Comments
  • 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]

    1 Comment
  • 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]

    4 Comments
  • 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]

    Comments
  • 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]

    Comments
  • 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]

    Comments
  • 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]

    Comments
  • 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]

    Comments
  • 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]

    4 Comments
  • 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]

    1 Comment
  • 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]

    Comments
  • From left: Scott Rechler, 1 Chase Manhattan Plaza and Mort Zuckerman

    From left: Scott Rechler, 1 Chase Manhattan Plaza and Mort Zuckerman

    The new owner of 1 Chase Manhattan Plaza, a 2.2 million-square-foot Lower Manhattan office tower currently owned by JPMorgan Chase, could be chosen as early as this week, executives close to the deal said. Bidders on the 60-story landmarked tower run the gamut from New York developers such as Scott Rechler to Asian investors, and have put forward several ideas including converting the building to condominiums or hotels, or retaining it as an office property. [more]

    Comments
  • NYC-focused REITs hit hard in Q3

    October 08, 2013 02:52PM
    From left: Marc Holliday, Stephen Green and Steve Roth

    From left: Marc Holliday, Stephen Green and Steve Roth

    New York-centric real estate investment trusts took a hit in the third quarter thanks to “taper talk” from the Federal Reserve, according to the investment banking firm Sandler O’Neill + Partners. [more]

    Comments
  • GM sublets 38K sf at namesake office tower

    September 11, 2013 06:33PM
    From left: Mort Zuckerman(inset), the GM Building and Zhang Xin (inset)

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

    General Motors Company, which lends its name to the most valuable office property in America, has found a tenant for one of its three remaining floors at the Boston Properties-owned tower at 767 Fifth Avenue, The Real Deal has learned from CompStak. [more]

    Comments
  • Mort Zuckerman and East Hampton

    Mort Zuckerman and Main Street in East Hampton

    Boston Properties’ Mort Zuckerman has steered the real estate investment trust from strength to strength — the same, though, can’t be said about his driving. [more]

    7 Comments
  • times-square-tower

    Mort Zuckerman and 7 Times Square

    Boston Properties has agreed to sell its 45 percent stake in the ground lease for the 48-story Times Square Tower for $684 million.

    The real estate investment trust will continue to handle property and leasing management at the 1.2 million-square-foot tower at 7 Times Square near West 41st Street. It plans to form a joint venture with the buyer, an affiliate of Norway-based Norges Bank. [more]

    1 Comment
  • zuck-gm

    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. [more]

    Comments
  • Mort Zuckerman and the GM Building at 767 Fifth Avenue

    Mort Zuckerman and the GM Building at 767 Fifth Avenue

    The capital markets’ hunger for trophy assets has led Boston Properties to focus on investment sales rather than acquisitions, executives for the real estate investment trust said during its second-quarter earnings call. [more]

    2 Comments
  • The CEOs of the major New York REITs- Clockwise from top: Marc Holliday, Steven Roth, Owen Thomas, David Neithercut, Dennis Friedrich, Timothy Naughton

    The CEOs of the major New York REITs- Clockwise from top: Marc Holliday, Steven Roth, Owen Thomas, David Neithercut, Dennis Friedrich, Timothy Naughton

    Another quarter, another stock market coup for SL Green Realty. Though most New York-focused real estate investment trusts failed to match up to their national counterparts, SL Green outperformed both the MSCI US REIT Index and the Standard & Poor 500 Stock Index. [more]

    Comments
MENU