51 Astor Place | The Real Deal New York

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51 Astor Place

51 Astor Place
New York, NY 10003
(212) 554-0500
Office, Retail, New Construction, Leasing/Rental, Other

51 Astor Place is a 12-story, 400,000-square-foot office tower in the New York City's East Village developed by Edward J. Minskoff and designed by architect Fumihiko Maki. The project completed construction in 2013 and according to estimates cost over $300 million. Its biggest tenant is IBM Watson, which occupies 120,000 square feet in the building.

Initially the project was criticized by many who felt the glass-box look of the building was inconsistent with surrounding neighborhood. Others criticized the prospect of starting such a major commercial project during a recession, as well as expressing doubts about the high initial rental prices.

Apart from IBM Watson, major tenants include 1stdibs, the Daily Mail and Claren Road, the last of which leases the 25,000-square-foot top floor. The asking rental price for the floor was $118 per square foot, and the transaction is believed to be the most expensive per-square-foot deal in the history of the Midtown South area.

  • Address 51 Astor Place
  • neighborhood East Village
  • borough Manhattan
  • owner Edward J. Minskoff Equities
  • developer Edward J. Minskoff Equities
  • owner entity JSM ASSOCIATES 1 LLC
  • architect ADAMSON ASSOCIATES INTERNATIONAL
  • PLANS DISCLOSED 07/01/2011
  • dob permit issued 02/16/2012
  • tco issued 08/19/2013
  • DOB FILE PLANS 07/01/2011
  • DOB FILE Link
  • floors 14
  • Year Built 2012
  • square feet 270,183
  • const. status Building Complete
  • block and lot 1-00554-0035
  • BIN 1089443

03/13/17
...just a short walk from Edward Minskoff’s 51 Astor Place, where IBM’s Watson group is the building’s 144,000-square-foot anchor tenant. Fashion designer...

03/08/17
...Pay Teachers, which is currently at Minskoff Equities’ 51 Astor Place, has hired heavily from the tech industry in recent years, reportedly poaching top talent...

02/23/17
...Village, not far from the commercial property at 51 Astor Place that locals have dubbed the Death Star, sources told The Real Deal. The partners...

02/22/17
...51 Astor Place, IBM’s Ginni Rometty and 590 Madison (Credit: 51 Astor, Wikipedia and 590 Madison) IBM supercomputer Watson...

02/14/17
...for the garage in 2014. The developer  also owns 51 Astor Place, an office building in the East Village. -- Miriam Hall...

01/18/17
...for the garage in 2014. The developer also owns 51 Astor Place, an office and retail building in the East Village.  -- Miriam Hall...

05/31/16
...Credit Union bought a stake in Edward Minskoff's 51 Astor Place, thus valuing the building at $600 million...

02/12/16
...be Minskoff's first move into ground-up development since 51 Astor Place, the mixed-use property that hit full occupancy in early...

02/12/16
...s Leonard Litwin (@LeonardLitwin). Edward J. Minskoff Equities' 51 Astor Place office building “tweets” from a parody account (@51deathstar) and 432 Park Avenue’s parody account...

01/21/16
...Minskoff’s 400,000-square-foot angular, glass office tower at 51 Astor Place. Current projects include the Culture Shed, a visual and performing arts center that will...

01/13/16
...GM Building at 767 Fifth Avenue, 11 Madison Avenue and 51 Astor Place Triple-digit rents used to be reserved for just a handful of New York City...

10/12/15
...From left: Edward Minskoff and 51 Astor Place in the East Village Minskoff Equities had no troubling filling the office space at...

10/06/15
...bought a minority stake in Edward Minskoff’s 51 Astor Place, a deal that values the futuristic-looking Midtown South office property at $600 million. The Seoul-based...

08/10/15
...of major assignments recently, including 11 Times Square and 51 Astor Place. RFR Realty hired JLL earlier this year to manage its 5 million-square-foot office portfolio.  – Ariel...

08/06/15
...From left: Edward Minskoff and 51 Astor Place Edward J. Minskoff Equities received a $370 million loan from Bank of America and Barclays...

07/13/15
...51 Astor Place in the East Village (inset: Edward Minskoff) Minskoff Equities’ angular, noir office building at...

06/24/15
...corner development site across from Edward Minskoff’s 51 Astor Place for roughly $50 million. Shapolsky – whose father, Sam, built and owned several hundred apartments on...

05/06/15
...51 Astor Place in the East Village (inset: Edward Minskoff) The office component of Edward J. Minskoff...

04/29/15
...From left: Edward Minskoff and 51 Astor Place IBM inked a lease for an additional 25,401 square feet at Edward J. Minskoff Equities'...

12/18/14
...From left: Paul Tudor Jones II, 51 Astor Place and Edward Minskoff Tudor Investment Corporation, a $13 billion hedge fund led by Robin Hood...

11/05/14
...from developer Edward Minskoff's 12-story office tower at 51 Astor Place. The St. Mark's Hotel currently occupies floors two through four of 2 St. Mark's Place...

10/29/14
...luxury office buildings such as Edward Minskoff’s 51 Astor Place, have resulted in six leasing deals this year that closed at over $100 per square...

10/17/14
...still getting used to IBM's Watson Building at 51 Astor Place  5. Savills Studley expands in the region  6. Lend Lease takes 12,000 square feet in Midtown 7. National...

09/16/14
...news conference today at the sales office at 51 Astor Place to provide more details about the project. At the conference, Schrager described the hotel...

04/16/14
...on The Real Deal: 1. Minskoff's big gamble on 51 Astor Place paying off 2. New York REIT goes public in a first for the markets 3. Most...
  • Event Retail Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 1,034
  • Publication Date 11/01/2015
  • Event Date 09/22/2015
  • Party 2 Bluestone Lane
  • Party 2 Brokerage RKF
  • Party 2 Broker Jonathan Krieger
notes
The coffee chain signed a lease.
  • Event Retail Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 2,363
  • Publication Date 11/01/2015
  • Event Date 09/22/2015
  • Party 2 Chop't Creative Salad Company
  • Party 2 Brokerage Esquire Properties
  • Party 2 Broker Craig Hantgan
notes
The salad shop signed a lease.
  • Event Retail Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 5,018
notes
The indoor cycling studio signed a lease.
  • Event Retail leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 11,500
  • Price per foot $ 350.00
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 25,401
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 25,000
notes
The hedge fund signed a lease to occupy the entire 11th floor.
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 42,232
notes
The tenant signed a 15-year lease.
  • Event Sales
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 96,970,000
notes
The 99-year ground lease sold for $96.97 million. Minskoff plans to build a 410,000-square-foot mixed-use property on the site, with office and retail space and one floor reserved for educational use. The lease also entitles Cooper Union to participate in the property's future income. The new building is expected to be ready for occupancy by 2010.

Midtown Manhattan
...asset manager Claren Road at the newly opened 51 Astor Place. Also in the top five were software firm Infor; British newspaper the Daily Mail...

...was expected to move to Edward Minskoff’s 51 Astor Place, but got edged out by IBM, which will take about 120,000 square feet at that...

...feet at developer Edward Minskoff’s spec tower 51 Astor Place. According to Crain’s, Twitter was also looking at the building. But it’s...
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