Commercial developers ready to pounce on High Line area

New York /
Jan.January 11, 2012 12:00 PM

Although Frank Gehry’s IAC and the Albanese Organization got a head start with their respective projects, IAC and 510 West 22nd Street, in terms of office development next to the High Line, other developers are eyeing the area as a prime spot for office buildings, due to the cachet the elevated park lends, the New York Times reported.

The Albanese Organization is looking for a 75,000-square-foot anchor tenant, with rents around $80 a square foot, for 510 West 22nd Street, which is a $140 million project. The site was previously being developed by the rapper Jay-Z.

“The office market down here is relatively small when it comes to number of buildings,” Charles Bendit, a co-chief executive at Taconic Investment Partners, told the Times. “I’m not sure what the demand is for 100,000-square-feet signature properties like this, but I would say there are a lot of cool companies that want to plant their flag down here. It will be very interesting to see how they do.” [NYT]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Michael Ovitz looks to flip Greenwich Village condo for $25M
Michael Ovitz looks to flip Greenwich Village condo for $25M
Michael Ovitz looks to flip Greenwich Village condo for $25M
Taylor Swift and 23 Cornelia Street (Getty, Google Maps)
Taylor Swift’s former Cornelia Street home to rent for $45K
Taylor Swift’s former Cornelia Street home to rent for $45K
FTX's Sam Bankman-Fried and The Albany resort (Getty, Albany Bahamas)
Inside Sam Bankman-Fried’s $300M Bahamian “fiefdom”
Inside Sam Bankman-Fried’s $300M Bahamian “fiefdom”
1350 Ladera Circle with Elvis and Priscilla Presley (Realtor, Getty)
Elvis and Priscilla Presley’s Palm Springs honeymoon getaway sells for $6M
Elvis and Priscilla Presley’s Palm Springs honeymoon getaway sells for $6M
Ivana Trump with 10 East 64th Street (Google Maps, Getty)
Ivana Trump’s longtime UES townhouse listed for $26M
Ivana Trump’s longtime UES townhouse listed for $26M
arrow_forward_ios

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

Loading...