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51 Astor Place

51 Astor Place
New York, NY 10003
51 Astor Place
51 Astor Place is a 12-story, 400,000-square-foot office tower in the East Village of New York City developed by Edward J Minskoff and designed by architect Fumihiko Maki. The project completed construction in 2013 and according to estimations cost over $300 million to complete. Its biggest tenant is IBM Watson, which occupies 120,000 square feet in the building. Initially the project was criticized by many who felt the glass box look of the building was inconsistent with surrounding neighborhood at Astor Place. Others criticized the prospect of starting such a major commercial project during a recession, as well as expressing doubts about the high initial rental prices. Apart from IBM Watson, major tenants include 1stdibs, The Daily Mail and Claren Road, the last of which leases the 25,000 square foot top floor. The asking rental price for the floor was $118 per square foot, and the transaction is believed to be the most expensive per-quare-foot deal in the history of the Midtown South area. WP
  • Address 51 Astor Place
  • neighborhood East Village
  • borough Manhattan
  • owner/developer Edward J. Minskoff Equities
  • architect Adamson Associates International
  • floors 14
  • Year Built 2012
  • square feet 270,183
  • block and lot 1-00554-0035
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The office component of Edward J. Minskoff Equities’ 51 Astor Place hit full occupancy last week, capping an extremely successful leasing run for the $300...
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  • Event Retail leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 11,500
  • Price per foot $ 350.00
The drugstore signed a lease.
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 25,401
IBM now takes up 143,836 square feet in the building.
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 42,232
The tenant signed a 15-year lease.
  • Event Sales
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 96,970,000
The 99-year ground lease sold for $96.97 million. Minskoff plans to build a 410,000-square-foot mixed-use property on the site, with office and retail space and one floor reserved for educational use. The lease also entitles Cooper Union to participate in the property's future income. The new building is expected to be ready for occupancy by 2010.
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There’s no winter chill in the Manhattan office leasing market. Despite the distracting hubbub of parties and holiday dinners, transactions traditionally rise in the fourth...