Marx Realty’s Midtown retail building to break ground tomorrow

New York /
Aug.August 15, 2011 01:53 PM

alternate
text
From top left: CBRE’s Susan Kurland, Gregory Tannor and Sloane Rhulen; right: Rendering of 201 East 57th Street

More than a year-and-a-half after razing the 136-year-old building that stood at 201 East 57th Street, developer Marx Realty & Improvement said it will finally break ground on a four-story glass replacement tomorrow. Marx held off construction on the new 30,814-square-foot structure on the corner of Third Avenue until it landed a ground-floor tenant, according to previous reports.

In June, CB Richard Ellis, which is the leasing agent for the entire project, inked a deal with TD Bank for 4,069 square feet of ground-floor space putting construction on track. Sloane Rhule, Susan Kurland and Gregory Tannor are the CBRE agents on the project. TD Bank will pay $300 per square foot for the first year of the lease, according to the earlier report.

The entire TPG Architecture-designed building, to be known as the Manufacturers & Builders, or M&B, Building will house retail tenants. Marx has owned the site since the 1920s. — Adam Fusfeld


Related Articles

arrow_forward_ios
Retail availabilities decreased, but leasing increased in the third quarter (iStock, Wikimedia, LoopNet)
Manhattan retail market ticks up, indicating slow recovery
Manhattan retail market ticks up, indicating slow recovery
Flight to quality in office real estate leaves trophy buildings the only winners
Flight to quality in office real estate leaves trophy buildings the only winners
Flight to quality in office real estate leaves trophy buildings the only winners
Amira Yunis (Sarcoma Foundation of America)
Top retail broker Amira Yunis dead at 51
Top retail broker Amira Yunis dead at 51
Darcy Stacom, CBRE’s head of NYC capital markets (Getty)
Darcy Stacom’s staffers say CBRE ace threw things at them
Darcy Stacom’s staffers say CBRE ace threw things at them
511 Barry Street and CenterPoint Properties CEO Bob Chapman (CBRE, GI Partners)
CenterPoint buys second warehouse in Hunts Point
CenterPoint buys second warehouse in Hunts Point
LA, Boston lead office recovery as Chicago and SF lag: report
LA, Boston lead office recovery as Chicago and SF lag: report
LA, Boston lead office recovery as Chicago and SF lag: report
Total investment for the past four quarters in South Florida, Austin and Atlanta increased by 18.7 percent. (iStock)
US investment sales rebound with one of busiest quarters ever
US investment sales rebound with one of busiest quarters ever
CBRE's Emma Giamartino and Bob Sulentic (CBRE, iStock)
Flush with cash, CBRE is ready to spend
Flush with cash, CBRE is ready to spend
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...