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

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

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


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