Boston Properties | The Real Deal New York

The Real Deal New York

trd topics
X


NAME


EMAIL


SUGGESTED
UPDATE


captcha

Please type the words that appear above
Than click SUBMIT
Boston Properties

599 Lexington Avenue
New York, NY
(212) 326-4000
Website
boston-properties
Boston Properties
Boston Properties is one of the largest landlords and developers in New York City. Its holdings, mostly Class-A office space, include the General Motors Building at 767 Fifth Avenue; 601 Lexington Avenue; the Times Square Tower at 7 Times Square; 510 Madison Avenue; 599 Lexington Avenue; and 399 Park Avenue. Marquee addresses along Park Avenue account for more than 50% of its New York holdings. The firm also developed 250 West 55th Street, a 1 million-square-foot office tower that was one of the few on-spec buildings constructed in Manhattan in the last two decades; it opened in 2014. Boston Properties was founded in Boston by Mort Zuckerman, its current chairman and chief executive, and Edward Linde, who died in 2010. It has numerous other, mostly office, holdings nationwide. Since 1997, it has operated as a real estate investment trust (REIT), headquartered in Boston, Massachusetts, and is listed on the New York Stock Exchange under the ticker symbol BXP. –WP
CANCEL
Subscribe to download data from The Real Deal's research site.
WHY SUBSCRIBE? SUBSCRIBE

CANCEL
To register, please enter your email and choose a password with at least six characters.

Trottenberg ft
02/25/16
Boston Properties’ bid to redevelop the Metropolitan Transportation Authority’s former headquarters in Midtown is on hold, after MTA official and Department of Transportation Commissioner Polly Trottenberg raised...
Marc Holliday
02/19/16
Seven months after downgrading SL Green Realty to a “sell” rating on fears of a “maturing” commercial real estate cycle, investment banking giant Goldman Sachs...
90 Church Street NYC
02/12/16
Two New York state agencies are in late-stage negotiations to renew a 250,000-square-foot spread at a U.S. Postal Service-owned building at 90 Church Street in...
ft51278_mort_zuckerman-205x266
02/12/16
Donald Trump has been tweetsulting Mort Zuckerman for three days now. He normally reserves this kind of prolonged rage for Megyn Kelly, so it’s worth...
WeWork-Thumb
02/10/16
WeWork’s valuation jumped 50 percent to $15 billion this week after Fidelity Investments reported that its shares in the company had appreciated spectacularly in the...
NYC REITs
02/09/16
While residential-focused real estate investment trusts like AvalonBay Communities and Equity Residential saw double-digit returns mirrored by positive stock price performance last year, their office...
BXP 250W55 ft
02/04/16
Boston Properties and Al Jazeera have agreed to terminate the broadcast news network’s 85,000-square-foot lease at 250 West 55th Street in Midtown, with Al Jazeera...
10 Hudson Yards Bank of America GM Building thumb
01/19/16
UPDATED: 3:25 p.m., Jan 20. 2016: Related Companies and Oxford Properties saw 10 Hudson Yards’ “market value” – assessed for tax purposes – grow by...
GM Building 11 Madison 51 Astor thumb
01/13/16
Triple-digit rents used to be reserved for just a handful of New York City’s spiffiest office buildings, but a new report sheds light on the...
stocks feat
01/04/16
The city’s major publicly-listed real estate firms were not exempt from today’s stock market hangover — the worst post-New Year’s Day performance by the U.S....
601 Lexington Avenue ft
12/29/15
New York City's most lucrative office leases of 2015 Step into my (very pricey) office. The 10 most lucrative New York City office leases signed in...
Top-Investment-Sales-feature
12/29/15
UPDATED, Dec. 29, 10:25 a.m.: What do the 10 biggest New York City investment sales of 2015 have in common? All the deals, whether they...
2015-Renderings-feature
12/28/15
Let’s face it — nothing seems to drum up more excitement for an upcoming project than a shiny new rendering. Like a placeholder on the skyline,...
ranking small
12/22/15
UPDATED, 2:12 p.m., Dec. 23: New York’s investment sales market continued to soar in 2015, bolstered by an enthusiastic lending environment. While many of the...
Top permits dec 15 thumb
12/16/15
Boston Properties and Rudin Management’s long-planned WeWork-anchored Dock 72 office building was the largest construction permit filed with the city in November. Another Brooklyn project,...
SONY DSC
12/08/15
You can’t make this up. Cosmetics giant Estee Lauder Companies has reportedly brought in CBRE to advise it on whether it should remain at its longtime headquarters,...
November-DOB-Feature
12/07/15
New building permit filings tumbled in November, with only 1,843 apartment units applied for across the city, according to a new analysis by The Real...
195 Montague Neumann
11/16/15
WeWork is opening its first Downtown Brooklyn location at Treeline Cos. and Long Wharf Property Partners’ 195 Montague Street. The shared-office company signed a long-term...
WeWork-copy
11/16/15
Updated: 4:37, Nov. 16: Boston Properties and Rudin Management filed plans for their new stylish, startup-focused office building at the Brooklyn Navy Yard. Tags: Boston...
11 Times Square 250 West 55th Street thumb
11/16/15
Updated: 1:45 p.m., Nov, 16: High-end office buildings are rising at a rapid clip along the west side of Midtown, and developers say more projects might...
Westbrook 47 Hall FB
11/09/15
UPDATED, 2:09 p.m., Nov. 13: Westbrook Partners and RXR Realty are in contract to buy a half-million-square-foot commercial property near the Brooklyn Navy Yard for more...
Albert Behler
11/06/15
Paramount Group hailed a Midtown Manhattan leasing environment where declining availability could prompt “double-digit” percentage increases in rent and also provided insight into its buyout...
Thomas_Linde ft
10/30/15
While continuing to see “strong interest” in Class A office properties from domestic and foreign buyers, Boston Properties said it remains wary of a “significant...
Forest City Realty Trust
10/20/15
Forest City Enterprises received approval from shareholders Tuesday for the company’s planned conversion into a real estate investment trust, with the Cleveland-based firm set to...
SL Green Realty
10/20/15
While affirming SL Green Realty’s default rating and providing an outlook of “stable,” credit ratings agency Fitch raised issues with the real estate investment trust’s...
To see all, go to Advanced Search
Boston Properties, Senior Vice President for Leasing, New York Region
599 Lexington Avenue, New York, NY, 212.326.4000
Andrew Levin handles leasing for the New York City-area buildings of Boston Properties,...
Boston Properties, Senior Vice President for Property Management, New York Region
599 Lexington Avenue, New York, NY, 212.326.4000
Thomas Hill grew up shadowing his father, who worked in New York City...
Boston Properties, President and Director
599 Lexington Avenue, New York, NY, 212.326.4000
Douglas Linde has been a top executive at Boston Properties, one of the...
Boston Properties, Senior vice president and New York regional manager
599 Lexington Avenue, New York, NY, 212.326.4000
Owen Thomas is CEO of Boston Properties, one of the nation’s largest landlords...
Boston Properties, Senior vice president and New York regional manager
599 Lexington Avenue, New York, NY, 212.326.4000
John Powers oversees the New York City and Princeton, N.J., operations of Boston...
Boston Properties, Chairman
599 Lexington Avenue, New York, NY, (212) 326-4000
Mortimer Zuckerman, who goes by Mort, is the co-founder and executive chairman of...
  • Event Office Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 20,483
  • Price per foot $ 120.00
notes
The firm signed an early renewal lease.
  • Event Office Leasing
  • Address 601 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 31,400
notes
The private equity investment group signed a 10-year renewal lease.
  • Event Office Leasing
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,597
notes
The tenant signed a seven-year expansion lease.
  • Event Office Leasing
  • Address 250 West 55th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 4,905
notes
The company signed a direct lease for the patial 16th floor.
  • Event Retail leasing
  • Address 247 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 4,000
notes
The non-profit signed a 20-year lease for community facility space.
  • Event Office Leasing
  • Address 7 Times Square Tower
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 4,226
notes
The tech company signed a four-year expansion lease on the 35th floor.
  • Event Office Leasing
  • Address 250 West 55th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 4,733
  • Publication Date 09/01/2014
  • Event Date 07/23/2014
  • Party 1 Boston Properties
  • Party 1 Brokerage CBRE
  • Party 1 Broker Christie Harle, Sam Seiler, Peter Turchin
  • Party 2 Berggruen Holdings
  • Party 2 Brokerage CBRE
  • Party 2 Broker Jared Freede, Michael Monahan
notes
The private investment company signed a lease on the 13th floor. The tenant is relocating from 1114 Sixth Avenue.
  • Event Sales
  • Building Name 247-259 West 54th Street
  • Address 247 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 97,679
  • Price $ 38,800,000
notes
The building sold for $38.8 million. Boston Properties is working to assemble a parcel of land to develop an 850,000-square-foot tower in the area.
  • Event Sales
  • Address 5 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 1
  • Price $ 1,280,000,000
  • Price per foot $ 1,164.00
  • Publication Date 01/01/2007
  • Event Date 11/22/2006
  • Party 1 Boston Properties
  • Party 2 AVR Realty Co.
notes
The REIT sold the property for $1.28 billion, or approximately $1,164 per square foot.
  • Event Sales
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1
  • Price $ 1,200,000,000
  • Price per foot $ 1,000.00
  • Publication Date 07/01/2006
  • Event Date 05/22/2006
  • Party 1 Boston Properties
  • Party 2 Affiliate of Istithmar PJSC
notes
The purchaser, an affiliate of the Dubai government's equity investment vehicle, paid $1.2 billion, or $1,000 per square foot, for the class A property. It comprises one 30-story tower fronting on Park Avenue and one 43-story tower fronting on Madison Avenue, linked by a shared lobby. Boston Properties acquired the property in 1997.
  • Event Sales
  • Address 540 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1
  • Price $ 1,100,000,000
notes
The three office towers sold for around $1.1 billion as part of a larger deal that included the $2.8 billion sale of the GM Building. The portfolio includes the 632,305-square-foot building at Two Grand Central Tower, the 540,000-square-foot tower at 125 West 55th Street and the 272,532-square-foot property at 540 Madison Avenue.
  • Event Sales
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 350,000
  • Price $ 280,500,000
notes
Boston Properties agreed to purchase the building for $280.5 million. As part of the agreement, Macklowe will serve as project consultant and co-chairman of the marketing and leasing advisory committee. CB Richard Ellis will continue to manage leasing at the property.
  • Event Sales
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2
  • Price $ 2,800,000,000
  • Price per foot $ 1,474.00
notes
The tower sold for $2.8 billion, or about $1,474 per square foot. The deal broke the record for the highest price ever paid for a single office building, previously held by Kushner Companies' $1.8 billion purchase last year of 666 Fifth Avenue. Macklowe Properties sold the GM Building to help pay off overdue short-term debt on the seven Midtown office buildings Macklowe bought in a highly leveraged deal last year. Macklowe purchased the trophy tower for $1.4 billion in 2003. Boston Properties acquired a 60 percent stake in the GM Building, paying around $890 million in cash and assuming the $1.9 billion in debt, due to mature in 2017. The Boston Properties-led group also paid around $1.1 billion for three other Macklowe office properties in Manhattan (see below).
  • Event Sales
  • Building Name Citigroup Center
  • Address 153 East 53rd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2
  • Price $ 400,000,000
  • Price per foot $ 700.00
  • Publication Date 07/01/2006
  • Event Date 05/22/2006
  • Party 1 Allied Partners
  • Party 2 Boston Properties
notes
Boston Properties, which owned 65 percent of the property, agreed to purchase Allied Partners' 35 percent interest for $400 million, which equates to approximately $700 per square foot and represents an aggregate value of $1.1 billion for the property. Boston Properties and Allied Partners teamed to purchase the building for $725 million in 2001. Boston Properties recently purchased the naming rights from Citigroup, which occupies the first 23 floors.
  • Event Sales
  • Address 140 East 45th Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 667,000
  • Price $ 401,000,000
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Boston Properties
  • Party 2 Rockwood Capital
notes
The property sold for $401 million, Real Estate Weekly reported. The purchase of the building, also known as Two Grand Central Tower, includes the assumption of a $176.6 million mortgage.
  • Event Retail Leasing
  • Address 7 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 19,000
notes
The women's clothier inked a 15-year lease for space on two floors; 7,000 square feet on the ground floor and 12,000 square feet on the second floor. Asking rents for the ground and second floors were $500 and $85 per square foot, respectively. The tenant also occupies an additional 12 floors of office space in the tower for its corporate headquarters.
  • Event Retail Leasing
  • Address 7 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 1,900
notes
Second Juan Valdez Café in NYC to open this summer
  • Event Retail Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 66,465
notes
The toy retailer signed a five-year lease renewal for its three-floor space at the GM Building.
  • Event Retail Leasing
  • Address 601 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 400
notes
The café signed a 10-year lease. The reported asking rent was $120 per square foot.
  • Event Retail Leasing
  • Address 153 East 53rd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 877
notes
The Japanese restaurant inked a 10-year lease.
  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 114,300
notes
The car maker signed a 10-year lease renewal for the 14th through 16th floors. The lease includes a clause that prevents the tower from being renamed after another automobile maker, should one rent there.
  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 9,270
notes
The investment firm signed a five-year lease renewal for the entire 18th floor.
  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,500
notes
The home builder signed a lease renewal on the 46th floor of the General Motors Building.
  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,100
notes
The grain trading firm signed a short-term sublease and extended the agreement long-term with the landlord for the entire 15th floor.
  • Event Office Leasing
  • Building Name Times Square Tower
  • Address 7 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 3,812
notes
[EMPTY]
To see all, go to Advanced Search
Brooklyn, 11205
Boston Properties
...
Manhattan, 10022
Boston Properties|Zhang Xin|Safra Family
The General Motors Building is a 50-story office tower located at 767 Fifth...
10 Hudson Yards Bank of America GM Building thumb
01/19/16
UPDATED: 3:25 p.m., Jan 20. 2016: Related Companies and Oxford Properties saw 10 Hudson Yards’ “market value” – assessed for tax purposes – grow by...
601 Lexington Avenue ft
12/29/15
New York City's most lucrative office leases of 2015 Step into my (very pricey) office. The 10 most lucrative New York City office leases signed in...
2015-Renderings-feature
12/28/15
Let’s face it — nothing seems to drum up more excitement for an upcoming project than a shiny new rendering. Like a placeholder on the skyline,...
November-DOB-Feature
12/07/15
New building permit filings tumbled in November, with only 1,843 apartment units applied for across the city, according to a new analysis by The Real...
Screen-Shot-2015-02-28-at-11.07.04-AM
The most valuable office lease inked in Manhattan last year will bring nearly $1.7 billion in cash to the owners of 11 Madison Avenue over...
admin-ajax
Low interest rates, brisk sales, a more active commercial mortgage-backed securities market and white-hot land prices helped drive a surging investment sales market in 2014...
064, 066 Highest grossing retail se FINAL.indd
The crush of tourists — often standing five deep at crosswalks in Times Square, Herald Square and on Fifth Avenue — may be frustrating to...
038-039 Retail ranking se FINAL.indd
Even as firms consolidate in New York City’s commercial brokerage industry, the subset of Manhattan retail is growing increasingly fractured as more players try to...
026 Commercial market se FINAL.indd
December was a robust month for office leasing in Manhattan, with high-profile deals signed in all three major markets of Midtown, Midtown South and Downtown....
Comm Market Report July 2013
Manhattan’s office leasing market bumped along in the first half of the year but got a bit of a boost from increases in the number...
Click to enlarge
Despite a small flurry of deals last month, 2012 was one of the slowest years in recent memory for office leasing. Total leasing volume for...
chart-small
In a stark reminder that large tenants have retreated, the amount of available office space is piling up on a stretch of Sixth Avenue that...
Commercial Market Report
Midtown South has done the heavy lifting so far this year to bring down the availability rate in the Manhattan office market. Midtown and Downtown,...
636
The General Motors BuildingUpper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not...
The agreement by publisher Condé Nast to lease 1 million square feet at One World Trade Center underscored a trend of companies willing to move...
Until last year, The Real Deal's annual accounting of real estate records was a Mad Libs of giddy peaks: The highest price ever paid for...
A recent deal involving shadow space — blocks of space that are available for leasing but have not been formally returned to the market — was a...
Dec_2006__5_Times_Square.gif
Investors expect prices to hit new peaks as $1,000-per-square-ft ceiling breached ...
Atlanta Commercial The $115-million, 21-story Intercontinental Buckhead Atlanta, which opened its doors to guests last month, is the first luxury hotel to open in Atlanta...
Atlanta Residential/Commercial There is a gusher of new condominium projects with no end in sight in Atlanta. The trend started when The Metropolis opened its...
Boston_Chart.jpg
Shaking off development doldrums, builders try to catch up to demand ...
Finally, it's time to set up a hall of fame for Manhattan real estate dealmakers. Just one catch: with prices the way they are now,...
Michael and Paul Ippolito Executive VPs and Principals, Newmark & Co. --Although the Ippolito brothers, Michael and Paul, joined Newmark at a difficult time, they were rescued...
Brooklyn, 11205
Boston Properties
...
MENU