Fosun hires former Vornado leasing vet to lead 28 Liberty

Tom Costanzo will work with JLL team to lease 2.2M sf office tower

TRD New York /
Jun.June 05, 2015 12:30 PM

Fosun Property hired a former Vornado Realty Trust leasing veteran to spearhead the search for tenants at 28 Liberty, the company’s 2.2-million-square-foot office tower in Lower Manhattan. 

Tom Costanzo, who spent 15 years brokering deals at the massive real estate investment trust before leaving in 2013 to work at Callahan Capital Partners, will join FosunMonday as the company’s director of leasing.

He’ll work alongside a JLL team handling leasing at the building, formerly known as One Chase Manhattan Plaza.

It was Costanzo’s new boss, Fosun Property managing director Erik Horvat, who coordinated with the JLL team to sign the building’s first tenant earlier this year. The company signed U.S. insurer Ironside, which Fosun bought a 20-percent interest in last year, to 100,000 square feet. The asking rent was reportedly at least $80 per square foot.

Bo Wei, Fosun’s vice president, said the company is now at the point where it needs a dedicated hand to move the project forward.

“The biggest challenge for 28 Liberty is the leasing,” the Mandarin-speaking executive told The Real Deal through an interpreter. “In terms of manpower, this was obviously necessary.”

Fosun revealed plans in March to makeover the landmarked building it bought for $725 million last year, thought the Landmarks Preservation Commission rejected the proposal over concerns regarding changes to The Plaza to make way for more retail. Fosun has not yet submitted an updated plan.


Related Articles

arrow_forward_ios
Fosun Property’s Bo Wei, Refinitiv’s David Craig and 28 Liberty Street (Credit: Getty Images, Google Maps)

Fintech firm signs on for massive lease at 28 Liberty

Fintech firm signs on for massive lease at 28 Liberty
Jack Terzi buying Downtown headquarters of Manhattan lawyers’ association

Jack Terzi buying Downtown headquarters of Manhattan lawyers’ association

Jack Terzi buying Downtown headquarters of Manhattan lawyers’ association
Entertainment law firm takes 57K sf at 28 Liberty

Entertainment law firm takes 57K sf at
28 Liberty

Entertainment law firm takes 57K sf at
28 Liberty
Report says Fosun plans to sell its flagship Manhattan tower – but company denies this

Report says Fosun plans to sell its flagship Manhattan tower – but company denies this

Report says Fosun plans to sell its flagship Manhattan tower – but company denies this
London Stock Exchange relocating to the Financial District

London Stock Exchange relocating to the Financial District

London Stock Exchange relocating to the Financial District
Fosun, JD Carlisle score $350M loan for NoMad condo project

Fosun, JD Carlisle score $350M loan for NoMad condo project

Fosun, JD Carlisle score $350M loan for NoMad condo project
Wolters Kluwer is in advanced talks to land at 28 Liberty

Wolters Kluwer is in advanced talks to land at 28 Liberty

Wolters Kluwer is in advanced talks to land at 28 Liberty
Booking.com takes 53K sf at 28 Liberty

Booking.com takes 53K sf at 28 Liberty

Booking.com takes 53K sf at 28 Liberty
arrow_forward_ios

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

Loading...