The number 11 office address has been kind to recent commercial leasing activity in Midtown, with major renewal and retail deals finalized at 11 Penn Plaza and 11 Times Square, respectively.
It’s a new generation – of both Pepsi drinkers and for the newly rezoned Hudson Square submarket, where PepsiCo’s first Manhattan offices will be located by the end of the year after the company’s recent lease at 350 Hudson Street.
Pending a final hearing on May 2, a New York County Supreme Court judge has given his preliminary approval for Malkin Holdings’ plan to convert ownership in the Empire State Building (and 18 other properties) into a publicly traded real estate investment trust.
The 40-story, 1.1 million-square-foot 11 Times Square – certified LEED for Core and Shell Gold – has leased 70 percent of its office space and all of its retail space after four recent deals totaling 75,000 square feet.
As rents rise in Midtown South and flexible office arrangements become harder to come by, an increasing number of technology companies are looking north: Felix/CityGrid Media is the latest to head back across 34th Street.
Construction on a $680 million platform above LIRR and Amtrak tracks on Ninth Avenue will allow Brookfield Properties to proceed with its $4.5 billion Manhattan West development, which will feature two 60-story, LEED Gold-hopeful commercial office towers.
An aggressive new marketing campaign at One World Trade Center is aimed at foreign companies and hopes to fill up the 3 million-square-foot tower’s remaining 45 percent of available office space before opening its doors in early 2014.
551 Madison Avenue – a historic former hotel converted into now-LEED-certified office space in 1982 – has been sold for $128 million.
Two high-profile LEED-EB-rated Manhattan office buildings signed major leases during the fourth quarter.
In a 220,000-square-foot deal, Microsoft has officially announced that it’s on the move from Sixth Avenue to the LEED Gold-certified 11 Times Square.