General Growth to rent out top floor of 200 Lafayette

Lease expected to fetch nearly $90 per square foot

TRD NEW YORK /
May.May 12, 2014 11:25 AM

General Growth Properties is offering up the top floor of 200 Lafayette Street, where JC Penney snapped up a lease for the entire seven-story building in a 15-year deal with three five-year options back in May 2012.

CBRE is handling the leasing, the New York Post reported, and no rent has yet been posted. But insiders tell the paper that the 16,780-square-foot space could snag as much as $89 per square foot, lightening the load for the struggling department store chain.

General Growth picked up the building from Jared Kushner in September for $148.75 million, and reportedly believes it can rent out the property’s retail space for as much as $6 million, sources told the Post. JC Penney, meanwhile, will continue to rent the property’s fourth, fifth and sixth floors to in-house fashion design teams.

Kushner and CIM redeveloped the 130,000-square-foot loft building after purchasing it in January 2012 for $50 million, investing an additional $5 million in the upgrades. [NYP]Julie Strickland


Related Articles

arrow_forward_ios
Jared Kushner and Jho Low (Credit: Getty Images)

Netflix’s “Dirty Money” delves into Jared Kushner, 1MDB scandal

Sandeep Mathrani and, clockwise from left: Marcelo Claure, Adam Neumann and Sebastian Gunningham and Artie Minson (Credit: Getty Images)

WeWork gets serious: Inside the hiring of Sandeep Mathrani

Brookfield CEO Brian Kingston and Garden State Plaza in New Jersey (Credit: Brookfield, Westfield Garden State)

Analysts still baffled by Brookfield’s big bet on malls

Softbank's Masayoshi Son and Jared Kushner (Credit: Getty Images)

SoftBank wanted Jared Kushner to divest from Cadre

Daily Digest Thursday

WeWork losses soar, SoftBank asked Jared Kushner to divest from Cadre

Cadre CEO Ryan Cadre, Jared Kushner, and Josh Kushner (Credit: Getty Images)

Kushner-backed Cadre raised $90M through anonymous offshore vehicle since 2017

Mueller Report provides new info on Trump Tower Moscow, Felix Sater and more

Mueller Report provides new info on Trump Tower Moscow, Felix Sater and more

Breaking down Jared Kushner’s Chris Christie vendetta

Breaking down Jared Kushner’s
Chris Christie vendetta

arrow_forward_ios
Loading...