HP signs lease for Chelsea Art Museum building

TRD New York /
Oct.October 26, 2011 01:43 PM

alternate
text
Chelsea Art Museum building
The Chelsea Art Museum is about to be replaced by Hewlett-Packard, which has special plans for the building. According to the New York Post, the tech firm signed a 10-year lease for the entire 34,500 feet inside the three-story museum building at 556 West 22nd Street near 11th Avenue. HP would not disclose the plans. The museum will remain in the building until Jan. 1.

CBRE brokers Pat Murphy and Jenny Ogden represented HP in the transaction, while a Murray Hill Properties team led by Jesse Rubens represented the owners.

The building is owned by a partnership of Albanese Organization and BD Richard Born’s Equities that bought the building out of bankruptcy from museum founder Dorothea Keeser for $19.35 million late last year. In addition to inking the lease, the owners sold 20,500 square feet of air rights to Scott Resnick’s SR Capital for an adjacent development at 551 West 21st Street. [Post, 1st item]


Related Articles

arrow_forward_ios

Who needs New York? Garden State multifamily portfolio trades for $146M

How much for that CVS building? In Greenwich, the price is $30M

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

Multifamily properties trade in Bridgeport, Toll Brothers buys in White Plains and more Westchester & Fairfield real estate news

Have no fear? Debt brokers say Deutsche Bank quelled concerns about real estate lending

Somerville moves forward with 31-acre transit village, Woodcliff Lake office property sold for $36M & more North Jersey real estate news

arrow_forward_ios