2 Rector Street
Following the joint venture between Stellar Management and Savanna to recapitalize 2 Rector Street earlier this month, Stellar, together with Cushman & Wakefield, launched a new marketing and development plan today that will reposition and re-tenant the Financial District office tower. The plan calls for the development of high-end prebuilt units ranging from 3,500 square feet to 17,945 square feet and will also incorporate free architecture consultations, turnkey services for new tenants and major upgrades such as new bathrooms, window repairs, heating system upgrades and facade improvements. Larry Gluck, Stellar’s founder, said that his company is prepared to be competitive on pricing and that they expect the units to move quickly. Stellar acquired the 430,000-square-foot, 26-story office tower in 1997. Current tenants include Daniel Libeskind, Skanska, Bank of America, Merrill Lynch and law firm Morris Duffy Alonso & Faley. TRD