101 Sixth Avenue
Regus has inked a 32,000-square-foot deal at Edward Minskoff’s 101 Sixth Avenue, the latest in a series of New York City space expansions for the global office-suite provider, Crain’s reported.
Regus signed a 10-year deal at the 23-story building, located between Watts and Grand streets. Asking rents are in the $70s per square foot. Jones Lang LaSalle handled both sides of the deal, with JLL brokers Mitch Konsker and Matt Astrachan representing Minskoff. [more]
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]
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]
Edward Minskoff and 101 Sixth Avenue (building credit: PropertyShark)
After losing out to Cornell-Technion in its bid to build a technology campus on city-owned land, the New York Genome Center is close to signing for 150,000 square feet at Edward Minskoff’s 101 Sixth Avenue in Soho, the Wall Street Journal reported. The center is a group of universities, medical centers and labs that conducts DNA-sequencing research. The Journal said the group could help the city catch up in the field of genomic science, which involves using machines to analyze a blood samples and decode a person’s entire DNA sequence. It is expected to create 2,000 new jobs in the next five years. [more]
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]
Edward Minskoff
From the February issue: In New York City, possibly the only thing rarer than a developer who can get a $100 million-plus construction loan these days is a developer who can get one to build a speculative office tower.
Recently, Edward Minskoff surmounted both hurdles, winning approval for a $165 million loan to build a flashy, 400,000-square-foot, 13-story office tower in the heart of Astor Place, an area one doesn’t normally associate with new office space. [more]
In the last three months of 2011, New York City real estate executives gave more than six times as much to Republican political committees as Democratic groups, a review of federal election documents released yesterday shows.
Republican backers, including Vornado Realty Trust’s Steven Roth and Related Companies’ Stephen Ross, donated a total of $280,000 in the fourth quarter of the year to federal campaign committees, while Democrats contributed $43,300. An additional 10 donors gave $36,000 to political groups that back candidates in both parties (see partial list above and full list after the jump)…. [more]
From left: Edward Minskoff and 101 Sixth Avenue (building credit: PropertyShark)Edward Minskoff has bought out partner Andalex Group at 101 Sixth Avenue for an undisclosed price, the New York Post reported. Minskoff had owned at 32 percent stake in the building before the purchase, and now takes complete control of the 425,000-square-foot tower, which will be vacant once SEIU Local 32BJ moves out (it’s moving to 620 Sixth Avenue).
The building, between Watts and Grand streets in Soho, is undergoing a gut renovation in hopes of attracting entertainment, media and technology companies…. [more]
Minskoff Equities has tapped commercial real estate brokerage Jones Lang LaSalle to market the office space at 51 Astor Place, the company’s forthcoming 400,000-square-foot property, which is currently under construction near Cooper Union, company founder Edward Minskoff told The Real Deal today. Robert K. Futterman & Associates will be marketing the property’s retail component, he said.
“Jones Lang LaSalle had good market coverage for the tenants out there that we feel strongly about — stronger than other firms,” Minskoff said. “They represent a lot of the tech tenants and financial tenants that we feel are our most promising [prospects.]”
As for Futterman, Minskoff said he had a long and successful relationship with the brokerage, making it the obvious choice for the retail at the East Village building, which is slated to be completed by 2013. … [more]
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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