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

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

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

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

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Michael Shvo and a rendering of the tower (City of Miami)

Michael Shvo’s proposal to build resi tower in Miami Beach faces opposition

Michael Shvo’s proposal to build resi tower in Miami Beach faces opposition
MetLife Building and Matt Van Buren, CBRE’s tri-state president (Getty, CBRE)

CBRE closes 2 office, expands presence at MetLife HQ

CBRE closes 2 office, expands presence at MetLife HQ
Nat Sherman Townhouse and Altria Group CEO Billy Gifford (Google Maps, Altria)

Tobacco shop Nat Sherman to close after 90 years

Tobacco shop Nat Sherman to close after 90 years
Rendering of the project (Courtesy of 125thstreet.nyc)

$242M Harlem mixed-use project will include civil rights museum

$242M Harlem mixed-use project will include civil rights museum
(iStock)

Home loan applications rise as rates fall to another record low

Home loan applications rise as rates fall to another record low
arrow_forward_ios

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

Loading...