GTIS inks lease at Midtown trophy tower

Tom Shapiro’s investment firm to take 29K sf at 787 Seventh
September 27, 2017 08:33AM

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