Singapore government fund inks lease at 280 Park

GIC is leaving Milstein’s 335 Madison early due to impending demolition

New York /
Jun.June 10, 2015 02:35 PM

GIC, a Singaporean government-owned fund manager, is leaving its offices at Milstein Properties’ 335 Madison Avenue and taking 50,000 square feet at SL Green Realty and Vornado Realty Trust’s 280 Park Avenue.

The fund wrapped up its lease at 335 Madison Avenue early, as Milstein is planning to demolish the tower and build a larger one in the wake of the Vanderbilt Corridor rezoning, according to the New York Post. Its lease would have lasted until 2022, but it will now move out in the first quarter of 2016.

The new space will be on the 9th Floor of 280 Park Avenue, which has 1.2 million square feet total. The 15-year lease had an asking rent of $100 per foot.

GIC was represented by JLL’s Frank Doyle, Clark Finney and Barbara Winter while Vornado Realty Trust and SL Green Realty were represented by a CBRE team.

In January, mutual fund Franklin Templeton signed a 126,000-square-foot lease at the building. In March, investment bank PJT Partners signed on for 100,000 square feet. [NYP] — Tess Hofmann


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)
Free and clear: Vornado pays off debt at 220 CPS
Free and clear: Vornado pays off debt at 220 CPS
Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)
“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
Developers pitch New York City casino
Developers pitch New York City casino
Developers pitch New York City casino
Inside the $1.6B Moynihan Train Hall redevelopment
Inside the $1.6B Moynihan Train Hall redevelopment
Inside the $1.6B Moynihan Train Hall redevelopment
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
One Manhattan West, Grace Building and St. John's Terminal nabbed the largest loans in NYC in 2020. (Brookfield Property Partners, SHVO)
NYC’s biggest real estate finance deals of 2020
NYC’s biggest real estate finance deals of 2020
arrow_forward_ios

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

Loading...