MTA, Human Resources Administration renew and expand for 300K sf in LIC

Asking rents at Vornado’s Center Building are around $40 psf

TRD NEW YORK /
Jan.January 11, 2017 09:50 AM

A pair of government agencies renewed and expanded their leases for a total of 302,000 square feet at Vornado Realty Trust’s Center Building in Long Island City.

The Metropolitan Transportation Authority, which is getting ready to turn its Madison Avenue buildings over to Brookfield Property Partners for redevelopment, took an extra 17,000 square feet at Vornado’s property and renewed a total of 152,000 square feet through 2026, the New York Post reported.

Asking rents in the eight-story building at 33-00 Northern Boulevard are around $40 per square foot.

The city’s Human Resources Administration also renewed for about 150,000 square feet.

Glen Weiss and Josh Glick represented Vornado in-house in both deals. Josh Kuriloff and Jodi Roberts at Cushman & Wakefield TRData LogoTINY negotiated on behalf of the MTA, while the HRA did its deal directly with the landlord.

Representatives for Cushman and Vornado declined comment to the newspaper.

Vornado bought the 437,000-square-foot building in March 2015 for $142 million. [NYP]Rich Bockmann


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

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

Vornado founder Steve Roth and Industrious co-founder Jamie Hodari (Credit: Getty Images)

Industrious to take 100K sf at Vornado’s One Penn Plaza

Vornado CEO Steve Roth and 595 Madison Avenue (Credit: Google Maps and Getty Images)

Fendi, Berluti take over old Coach flagship at 595 Madison

From left: Bruce Molser, David Schechtman, Bob Knakal, David Greenbaum, and Judi Pulice

New York’s real estate bigwigs offer predictions for 2020

11 Penn Plaza and Apple CEO Tim Cook (Credit: Vornado, Getty Images)

Apple is in talks for a lease at Vornado’s 11 Penn Plaza

Clockwise from left: 1290 Sixth Avenue, 40 Wall Street, President Donald Trump, Trump National Doral in Miami and Trump International Hotel in Washington, DC (Credit: Getty Images, Vornado, Wikipedia)

Trump Org’s office holdings help offset hotel losses: analysis

arrow_forward_ios
Loading...