51 Astor Place | TRD Research
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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
  • Event Office Leasing
  • Address 51 Astor Place
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 25,401
notes
The financial firm inked a lease at Astor Place.
  • 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
  • Publication Date 08/01/2015
  • Event Date 06/22/2015
  • Party 1 Minskoff Properties
  • Party 1 Brokerage SRS Real Estate Partners
  • Party 1 Broker Patrick Smith
  • Party 2 CVS Pharmacy
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • 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.

10/01/2014
Clocking in at No. 1 was a 25,401-square-foot lease signed by asset manager Claren Road at the newly opened 51 Astor Place...

02/01/2014
Twitter committed to more than 140,000 square feet at Savanna’s 245-249 West 17th Street, located between Seventh and Eighth avenues. The social networking company will pay rents starting in the low-$70s per square foot in a 10-year deal, according to CompStak. Twitter 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 building...

12/03/2013
In Midtown South overall, 38 percent of the deals were with such firms. For example, the website 1stdibs.com, an online antique store, inked a deal for about 42,232 square feet at developer Edward Minskoff’s spec tower 51 Astor Place...