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Shorenstein Properties

850 Third Avenue, 17th Floor
New York, NY 10022
(212) 986-2100
Website

San Francisco-based Shorenstein Properties controls some 26.2 million square feet of commercial space nationwide, but its got a notable brief in New York City.

The firm there owns 477 Madison Avenue, a 24-story, 326,589-square-foot, Class A office building with street-level retail, and 850 Third Avenue, a 21-story, 613,664-square-foot Class A office building designed by Emery Roth and Sons (they also designed the Empire State Building).

As of March 2015, Shorenstein was shopping the latter, where it has it New York offices. It was also in contract in February 2015 to buy the ground lease for 1407 Broadway, a 1.1 million-square-foot office building in Midtown, for $330 million. Finally, Shorenstein was famously one of the two sellers of the 2.3 million-square-foot Starrett-Lehigh Building in West Chelsea in 2011 for $920 million. It was one of the first big building trades coming out of the Great Recession.

Walter Shorenstein founded the privately held firm in San Francisco just after World War II. His son, Doug Shorenstein, is the current chairman and CEO.  -TA

Shorenstein Properties, Chairman and CEO
235 Montgomery Street, New York, NY, 415.772.7000
In 1995, the late Doug Shorenstein took over the company that his father,...
Shorenstein Properties, Managing director, capital transactions
850 Third Avenue, 17th Floor, New York, NY, 212.986.2100
Mark E. Portner is Shorenstein Properties go-to guy on acquisitions and trades in...
Shorenstein Properties, Managing Director, Capital Transactions
850 Third Avenue, 17th Floor, New York, NY, 212.986.2100
Mark E. Portner is Shorenstein Properties go-to guy on acquisitions and trades in...
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 28,405
notes
The coworking firm inked a lease for the Garment District space.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 24,714
  • Price per foot $ 59.00
notes
The South Korean-based cosmetics company signed a 10-year lease for the Garment District building at $59 per square foot.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 13,712
  • Price per foot $ 73.00
notes
The software company signed a 7-year lease for the Garment District space.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 100,000
  • Price per foot $ 65.00
notes
The cable and internet provider inked a 10-year lease with the asking rent of $65 per square foot.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 12,845
notes
The nonprofit inked a lease for the 29th floor of the 43-story office tower.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 13,735
notes
The clothing maker inked a 10-year lease for the 32nd floor of the 43-story office tower.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 42,748
notes
The environmental firm signed a new lease to consolidate its two Midtown locations.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 13,797
notes
The accounting firm signed a lease for the entire 40th floor.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 22,318
notes
The clothing company renewed its lease for 10 years.
  • Event Sales
  • Address 850 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 614,000
  • Price $ 463,000,000
  • Price per foot $ 754.07
notes
The office building was sold for $463 million.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 1,525
notes
The high-end furnishings company signed a lease.
  • Event Office Leasing
  • Address 1407 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 9,592
notes
The law firm signed a 10 year lease.
  • Event Office Leasing
  • Address 850 Third Avenue
  • Neighborhood Turtle Bay
  • Borough Manhattan
  • Square feet 13,700
  • Price per foot $ 75.00
notes
The firm signed a lease.
  • Event Office Leasing
  • Address 477 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,200
  • Event Sales
  • Address 601 West 26th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 2,200,000
  • Price $ 900,000,000
  • Price per foot $ 409.09
notes
The Starrett-Leigh building sold for $900 million, or about $409 per square foot.
  • Event Office Leasing
  • Address 850 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 39,000
notes
The radio broadcasting company signed a lease for the entire third floor.
  • Event Office Leasing
  • Address 850 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,745
notes
The global law firm inked a five-year lease renewal on the third floor. The firm's main offices are located at 599 Lexington Avenue, where it occupies about 500,000 square feet.
  • Event Office Leasing
  • Address 125 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 13,500
  • Price per foot $ 55.00
  • Publication Date 03/01/2010
  • Event Date 01/20/2010
  • Party 1 Shorenstein Properties
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Joshua Gosin
  • Party 2 Informatica
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Dan Segal
notes
The data integration software provider signed a seven-year lease for a portion of the 15th floor. The tenant was previously had about 9,000 square feet at 500 Fifth Avenue.
  • Event Office Leasing
  • Address 850 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 23,149
  • Price per foot $ 50.00
notes
The Chicago-based law firm signed a 10-year lease for part of the 11th floor.
  • Event Sales
  • Address 465 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 42,600
  • Price $ 22,000,000
  • Price per foot $ 516.43
notes
The four-level retail unit went into contract for $22 million. The purchase will give Cohen control of the space at the base of the Ritz Tower co-op building, at 57th Street, where Borders Books' lease expires in January 2018. Borders itself once put the lease on the market. Cohen's acquisition comes just as he's in the midst of reconfiguring the store space at 135 East 57th Street, at Lexington Avenue, where tenants are vacating 17,900 square feet of retail space.
  • Event Sales
  • Address 850 Third Avenue and 65 East 55th Street Avenue Tower
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 930,000,000
  • Event Sales
  • Building Name 850 Third Avenue and 65 East 55th Street
  • Address 65 East 55th Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,017,000
  • Price $ 930,000,000
  • Price per foot $ 914.45
notes
The San Francisco-based real estate company signed a contract for a 94.5 percent interest in the two office towers formerly owned by Macklowe Properties in a transaction valued at around $930 million. The majority stake in the 38-story building at 65 East 55th Street was purchased for $665 million, or $1,100 per square foot; the controlling interest in the 21-story property at 850 Third Avenue was bought for $325 million, or $530 per square foot. The remaining interest in the package is owned by developer George Klein and worth approximately $60 million. Park Avenue Tower.
  • Event Financing
  • Address 1180 Sixth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 382,000
notes
Shorenstein purchased a $39.5 million junior mezzanine loan on behalf of its ninth investment fund, Shorenstein Realty Investors Nine LP. The current owner acquired the building, which is currently 90 percent leased, earlier last year. 22-story office building.
  • Event Office Leasing
  • Address 125 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 31,000
notes
The manufacturer of workspaces and office furniture inked a lease for showroom and office space in the former Satellite Airline Terminal.
  • Event Sales
  • Address 450 Lexington Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 905,000
  • Price $ 400,000,000
  • Price per foot $ 441.99
notes
The 99-year lease was sold.