Moinian close to signing first tenant at 3 Columbus Circle

Joe Moinian and 3 Columbus Circle
Joseph Moinian’s 3 Columbus Circle is close to landing its first major tenant since undergoing a $100 million renovation, the New York Post reported. The Y&R division of ad company WPP Group, which also owns Ogilvy & Mather and Grey, among others, is reportedly in talks for 350,000 square feet in the building through CB Richard Ellis tri-state CEO Mary Ann Tighe.

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It would mark a major milestone for Moinian, who had deals aligned last year with the William Morris Agency and HQ Global Workplaces for a total of 110,000 square feet, before the Related Companies moved to foreclose on the property. SL Green Realty eventually bailed Moinian out with a $260 million payment and took a stake in the building. Previous reports pegged rents in the 25-story, 768,565-square-foot building previously known as 1775 Broadway at $60 to $80 per foot.

The Post noted that WPP is familiar with SL Green Realty, which leases 43,000 square feet to its subsidiaries in 100 Park Avenue. Ogilvy & Mather also has a 564,363-square-foot lease at 636 Eleventh Avenue. [Post, 1st item]

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