The Real Deal New York

Tenants want out of 1095 Sixth Avenue

November 10, 2008 09:31AM

The office building 1095 Sixth Avenue just underwent a two-year, $250 million renovation, and now firms who signed leases in 2006 and 2007 say they can no longer afford to move in. Real estate finance company iStar Financial, Metropolitan Life Insurance and Centerline Capital Group, a commercial property finance and investment company, all said they won’t be moving into the West 42nd Street building. The companies signed leases for as much as $132 a square foot, and many brokers now say the landlord, Blackstone Group, would be lucky to get $95 a square foot.

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