Ladies’ Mile looks to become part of Silicon Alley

April 03, 2012 11:00AM

A new 23rd Street office is taking advantage of New York City’s growing technology sector, and may augur a shift for the whole area, the Wall Street Journal reported. The Stern building, a relic from the turn of the last century, is finding new life as part of Silicon Alley.

The 66,000-square-foot office, at 28-40 West 23rd Street, between Fifth and Sixth avenues, recently signed Estee Lauder’s social media division, and is in the process of courting more tech tenants, as it has become what Grubb & Ellis broker Robert Shapiro called “a state-of-the-art facility.”

Shapiro represented Estee Lauder in their recent transaction. Rents and square footage were not given.

This is the third or fourth such re-imagination for the area, along Fifth and Sixth avenues in the 20s, since the strip, known as Ladies’ Mile, was first developed as a department store district. [WSJ]