GTIS inks lease at Midtown trophy tower

Tom Shapiro’s investment firm to take 29K sf at 787 Seventh

TRD New York /
Sep.September 27, 2017 08:33 AM

GTIS Partners is ditching its Rockefeller Plaza digs for 787 Seventh Avenue.

Tom Shapiro’s real estate investment firm signed a 28,677-square-foot lease for the 50th floor of CalPERS’ office tower.

The space includes soaring arched windows and ceilings as high as 40 feet. CBRE represented both sides in the deal. Asking rents were over $100 per square foot, but GTIS landed a big concession package, the New York Post reported.

CalPERS bought the 51-story, 1.7 million-square-foot tower for $1.9 billion from AXA Financial last year.

GTIS is also converting 101 West 78th Street into a $182 million condominium and partnered with Scott Resnick on another condo project, 551 West 21st Street. [NYP] — Konrad Putzier

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Cristiano Moura (Credit: Christie’s Real Estate and iStock)

Viral Instagram post leads to arrest, assault charge for former Christie’s agent

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

A&E Real Estate Holdings principal Douglas Eisenberg and the properties (Credit: The Rego Park 18 Portfolio)

Deutsche Bank provided A&E $97M in financing for big Rego Park buy

Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

From left: Daniel Shirazi, and Robert Khodadadian, with 530 West 25th Street

Feil Organization buys Chelsea office building for $72M