Hines gets hot in New York

TRD New York /
Jul.July 23, 2012 02:00 PM

Even though the Houston-based Hines secured an agreement with JPMorgan Chase to finance the new 28-story, 450,000-square-foot office tower at Bryant Park, there is still no anchor tenant (note: correction appended). But that doesn’t worry Tommy Craig, senior vice president and partner at Hines’ New York office, according to Crain’s.

Hines has become to go-to office developer for Morgan Stanley, UBS and Goldman Sachs, Crain’s said. SL Green last month tapped Hines to consult on the development of the office building across the street from Grand Central.

Hines currently manages 13 buildings around the city and is forging ahead with a condominium project downtown at 56 Leonard Street, which is being designed by Jacques Herzog and Pierre de Meuron — both Pritzker Prize-winning architects.

But despite its strong reputation, Hines is still one of the city’s least known firms, Crain’s said. Hines is also behind the development of the MoMA Tower and is still seeking financing for it. Plans include luxury condo units, a hotel and floors for the museum. However, the City Planning Commission shut down the firm’s original plan, saying the design was incomplete. [Crain’s]


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