DOCSLIB.ORG

Manhattan Office Marketbeat Q3 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Manhattan Office Marketbeat Q3 2020 MARKETBEAT MANHATTAN Office Q3 2020 YoY 12-Mo. ECONOMY: Employment Levels Start to Rebound Chg Forecast Total employment in New York City declined by nearly 860,000 jobs from March to May but steadily increased over the past three months, adding nearly 150,000 new jobs from June through August. Office-using employment regained 16,000 jobs over the same time period. The 13.3% unemployment rate fell from 15.9% in July to 12.5% in August. Vacancy Rate Upon the arrival of COVID-19 in the U.S., the economy entered a recession in March 2020, recording the worst decline in post-war history in the second quarter of 2020. Mounting evidence indicates that the recovery began in May or June with third quarter 2020 data likely reflecting that. But, until there is a public health resolution to the pandemic, the recovery is likely to remain uncertain and gradual. Only then can -8.2M households and businesses become more confident. Access the most recent research on CRE and the state of economyhere. Net Abs. YTD, SF SUPPLY AND DEMAND: Leasing Registers the Second-Lowest Quarter in 25 Years Despite a slight uptick in third quarter leasing, tenant demand remained weak as total new leasing reached only 2.5 million square feet $74.13 (msf)—down from a quarterly average of 8.7 msf in 2019. Only three new leases greater than 100,000 square feet (sf) were transacted Asking Rent, PSF during the quarter, with Facebook’s 730,000-sf lease at 390 Ninth Avenue (Farley Post Office) accounting for 29.0% of third quarter leasing velocity. The slow quarterly total brought year-to-date (YTD) activity to 10.8 msf—down 57.6% from one year ago and the lowest consecutive (Overall, All Property Classes) nine-month total since 1995. TAMI (technology, advertising, media and information services) continued to fuel most of the activity for new leases 10,000 sf and larger, accounting for 34.8% of YTD activity, and was the top leasing sector in all three major markets. Renewal activity reached nearly 1.7 msf in the third quarter, generating a YTD total of almost 4.5 msf—up a modest 1.7% from one year ago. The Manhattan overall vacancy rate increased by 140 basis points (bps) during the quarter to a 24-year high of 13.3%, as overall supply ECONOMIC INDICATORS jumped to nearly 54.0 msf. In addition to 13 blocks greater than 100,000 sf entering the market, the completion of One Vanderbilt Avenue Q3 2020 was the first major development of 2020 and brought 625,028 sf of vacant space to the market. Sublease vacant space increased for the seventh consecutive quarter to a 17-year high of 16.1 msf—already surpassing the peak levels of the global financial crisis. Third quarter YoY 12-Mo. sublease space additions totaled 3.4 msf, marking the largest quarterly jump since 2001. An additional 2.8 msf of “shadow” sublease space Chg Forecast being tracked could potentially lead to a more substantial increase in vacancy as it enters the market more rapidly in 2021. The TAMI sector 4.0M accounts for more than half of the shadow space being tracked, followed by financial services at 19.1% New York City Employment PRICING: Minimal Rent Declines Despite Stagnant Leasing Manhattan overall asking rents increased by $0.81 to $74.13 per square foot (psf) during the quarter as direct asking rents climbed by $2.11 to $79.08 psf. Midtown asking rents increased by $1.71 psf to $78.00, as higher-priced space brought to the market at One Vanderbilt Avenue drove Grand Central asking rents to an all-time high of $83.94 psf. Midtown South asking rents dropped by $2.66 psf to $73.05, triggered 12.5% by lower-priced sublease space added at 675 Avenue of the Americas. Downtown overall asking rents dipped by $0.96 to $62.07 psf, while New York City sublease asking rents fell by $3.16 to $55.74 psf, as less expensive sublease space was added at One World Trade Center and 17 Battery Place Unemployment Rate South. 8.8% OVERALL VACANCY DIRECT VS. SUBLEASE SPACE AVAILABLE COMPARISON U.S. 13% 60 Direct Sublease Unemployment Rate 50 11% Source: BLS 40 9% 30 Historical Average = 9.4% 20 7% 10 5% 0 MARKETBEAT MANHATTAN Office Q3 2020 Midtown MANHATTAN SHADOW SUBLEASE SPACE Midtown new leasing totaled approximately 2.0 msf in the third quarter despite being down from a quarterly average of 5.1 msf in 2019. With only 7.1 msf leased YTD, activity marked the lowest consecutive nine-month total on record. Park Avenue was the only Midtown submarket to register a year-over-year increase in leasing, up 5.7% to 1.1 msf, driven by the Raymond James lease for 160,000 sf at 320 Park Avenue. Midtown vacancy increased by 170 bps in the third quarter to 14.3% as the completion of One Vanderbilt Avenue brought 625,028 sf of vacant space to the market. A block of 127,044-sf entering the market at 75 Rockefeller Plaza pushed the Sixth Avenue/Rock Center submarket vacancy rate up 180 bps during the % quarter to 11.3%—the highest quarterly total in seven years. Sublease space jumped by 23.5% in the third quarter to 9.3 msf 19.1 8.6% largely driven by 190,932 sf entering the market at 399 Park Avenue. Year-to-date absorption was negative at 5.6 msf. 55.1% Financial Real Midtown South Services Estate The pace of leasing in Midtown South slowed to an all-time quarterly low of only 290,930 sf as 90.0% of transactions were below 20,000 sf—compared to a quarterly average of nearly 1.6 msf in the prior three years from 2017 to 2019. % % Year-to-date new leasing plummeted 75.5% from one year ago to nearly 1.4 msf with Hudson Square/West Village down Retail/ 12.9 4.3 TAMI the sharpest at 94.1%. Overall vacancy increased for each of the past nine months, ending the quarter at 11.1%—the first Wholesale Other double-digit quarterly vacancy recorded since 2009. Sublease space reached an all-time high of 3.0 msf led by a block of By Industry & SF 104,331 sf added at 675 Avenue of the Americas and 102,539 sf entering the market at 1250 Broadway. SUBLEASE SPACE ADDED BY MARKET YTD Downtown Downtown new leasing registered an unprecedented quarterly low of only 183,017 sf, which brought the YTD amount to 2.5 2.4 msf leased—a total lower than the leasing during the first quarter of 2019. Nearly 95.0% of third quarter leases were less than 20,000 sf, with Remarkable Foods representing the largest lease of the quarter for 68,666 sf at Four World 2.0 2,170,574 Trade Center. Even with a 330,350-sf block of direct space entering the market at One Liberty Street, Downtown vacancy increased a modest 40 bps during the quarter to 12.1%—though it was the highest quarterly vacancy rate since 2013. 1.5 Sublease space increased by 33.6% to a 70-quarter high of nearly 3.7 msf. 1,493,561 1,256,452 MSF 1.0 Outlook 0.5 0.0 • New York City’s employment gains over the past few months will likely continue into 2021, albeit Midtown Midtown South Downtown at a slow pace ASKING RENT COMPARISON • Expect leasing activity to remain below average through 2021 $85 • Look for shadow sublease space to enter the market at a faster pace in the fourth quarter $81.51 $75 $74.13 $ PSF $65 Q3 16 Q3 17 Q3 18 Q3 19 Q3 20 Class A Overall MARKETBEAT MANHATTAN Office Q3 2020 MARKET STATISTICS DIRECT SUBLET OVERALL CURRENT QTR YTD OVERALL YTD LEASING UNDER OVERALL AVG OVERALL AVG SUBMARKET INVENTORY VACANT VACANT VACANCY OVERALL NET NET ABSORPTION ACTIVITY CNSTR ASKING RENT ASKING RENT (SF) (SF) (SF) RATE ABSORPTION (SF) (SF) (SF) (SF) (ALL CLASSES)* (CLASS A)* East Side/UN 20,794,447 1,922,645 616,663 12.2% -298,218 -505,507 355,532 N/A $71.24 $71.89 Grand Central 45,798,830 6,041,183 1,523,304 16.5% -81,070 -209,530 1,222,248 N/A $83.94 $89.00 Madison/Fifth 22,500,251 3,641,574 836,608 19.9% -456,563 -609,071 615,263 N/A $93.25 $99.12 Murray Hill 14,142,543 1,399,457 424,637 12.9% -347,683 -391,971 223,472 N/A $60.12 $67.75 Park Avenue 20,217,866 1,947,746 847,499 13.8% -507,377 -593,840 1,085,984 292,100 $90.81 $90.81 Penn Station 21,190,661 1,005,804 826,743 8.6% -120,008 205,020 1,963,759 4,353,052 $84.58 $92.32 Sixth Avenue/Rock Center 41,816,982 3,398,750 1,325,113 11.3% -750,689 -1,084,608 657,711 68,995 $80.12 $81.11 Times Square South 30,984,874 3,600,952 1,534,945 16.6% -472,699 -1,800,741 445,870 N/A $58.94 $65.02 West Side 30,981,301 3,331,612 1,407,699 15.3% 91,684 -591,281 550,980 95,347 $75.80 $79.11 MIDTOWN TOTALS 248,427,755 26,289,723 9,343,211 14.3% -2,942,623 -5,581,529 7,120,819 10,372,946 $78.00 $85.29 Chelsea 16,660,129 1,210,138 618,234 11.0% -174,104 -261,136 311,487 574,722 $68.17 $89.69 Greenwich/NoHo 4,850,579 305,550 137,652 9.1% -79,387 -119,547 106,203 222,074 $84.68 $108.12 Hudson Square/West Village 10,000,435 243,007 832,141 10.8% -372,355 -467,806 152,978 N/A $73.66 $96.85 Madison/Union Square 32,593,617 2,339,144 1,280,350 11.1% -811,046 -929,853 733,732 180,893 $71.83 $82.38 SoHo 4,187,232 423,752 179,805 14.4% -147,465 -111,099 63,023 N/A $86.39 $115.32 MIDTOWN SOUTH TOTALS 68,291,992 4,521,591 3,048,182 11.1% -1,584,357 -1,889,441 1,367,423 2,878,738 $73.05 $90.39 City Hall 7,731,533 650,133 65,717 9.3% -21,690 -168,040 68,622 N/A $61.75 $50.12 Financial East 32,962,294 2,547,939 1,301,444 11.7% -372,669 256,492 1,322,650 48,077 $54.49 $56.37 Financial West 6,017,928 897,117 202,702 18.3% -41,329 106,004 182,070 185,295 $58.32 $70.36 Insurance 13,055,933 1,090,045 301,648 10.7% -79,815 -199,857 86,263 51,755 $57.34 $63.04 TriBeCa 5,124,468 170,887 90,324 5.1% -392 -110,266 4,861 N/A $72.93 $74.29 World Trade 24,103,907 1,740,064 1,721,712 14.4% -379,168 -576,340 685,942 39,879 $71.13 $72.15 DOWNTOWN TOTALS 88,996,063 7,096,185 3,683,547 12.1% -895,063 -692,007 2,350,408 325,631 $62.07 $65.74 MANHATTAN TOTALS 405,715,810 37,907,499 16,074,940 13.3% -5,422,043 -8,162,977 10,838,650 13,577,315 $74.13 $81.51 *Rental rates reflect full service asking ** Manhattan Totals are not reflective of U.S.
Load more

Recommended publications
  • Meeting Planner's Guide 2019
    AN ADVERTISING SUPPLEMENT TO CRAin’S NEW YORK BUSINESS MEETING Planner’S GUIDE 2019 YOUR RESOURCE FOR SUCCESSFUL MEETINGS AND EVENTS IF YOU ARE A MEETING or event hotels in the New York City area. than other channels. A lot of that a trend toward “bleisure,” the walk the line between creating planner you are part of an elite, Our goal is to keep you ahead value comes from networking in combining of business travel and experiences that resonate with multi-talented group. Being a of the curve and one up on the person. One-on-one meetings leisure. Today’s event attendees the whole audience, as well as planner calls for a wide range of competition in 2019. have become a hot commodity; expect event planners to be equal with individual attendees. expert skills and qualifications, To that end, here are some research has shown that, after parts manager and travel agent. such as managing, budgeting and of the meeting and event trends content, networking is the sec- Everything from programming to GIVE THEM execution, knowledge of tech- to consider when planning ond biggest motivator for event catering is likely to reference the A SHOW nology, creative talent—not to this year: attendees today. And the term locality and culture of the desti- 2019 also sees a trend for the mention leadership, adaptability, “networking” covers everything nation both on-site and off. “festivalization” of meetings and people skills, patience and energy IN YOUR FACE from spontaneous conversations events. A growing number of (to name just a few). When you “Face time” is the buzzword to huddle rooms and meet-and- TAKE IT PERSONAlly gatherings are adding perfor- possess all of these qualities you in meetings and events for greets.
    [Show full text]
  • Ramon Gilsanz Is a Founding Partner in the Firm Gilsanz Murray Steficek
    Ramon Gilsanz, PE, SE, F.SEI, F.ASCE, Hon. AIA NYS Ramon Gilsanz is a founding Partner of Gilsanz Murray Steficek. In his over 35 year career as a structural engineer he has worked on a wide range of projects, both new construction and renovation. Among the new construction projects, Mr. Gilsanz has worked on residential towers, hospitals, office buildings, industrial facilities, and specialty projects such as art installations. He has been involved in renovating buildings, theaters and museums that have been deemed historical landmarks. Mr. Gilsanz is active in making contributions to the structural engineering industry through involvement in professional societies. He is currently serving as Chair of the New York City Department of Buildings’ Structural Technical Committee, a group responsible for the revisions of the New York City Building Code; Director for the New York/Northeast Chapter of Earthquake Engineering Research Institute (EERI); Chair of the American Council of Engineering Companies of New York Metropolitan Section Structural Code Committee; Past-Chairman of the code committee of the Structural Engineers Association of New York (SEAoNY), and he is working on several committees for the American Society of Civil Engineers (ASCE), including ASCE 7-16 Minimum Design Loads For Buildings And Other Structures, American Concrete Institute (ACI), and American Institute of Steel Construction (AISC) where he currently sits on the AISC Committee on Specifications. He also participated on the Code Advisory Committee for the National Council of Structural Engineers (NCSEA) and numerous New York City Committees on Standards. Mr. Gilsanz served on the Urban Green Council's Building Resiliency Task Force (BRTF) following Hurricane Sandy in October 2012.
    [Show full text]
  • New York Citytm
    The Internationalist ® The Top 10 Guide to New York The Top 10 Guide to New York CityTM The Internationalist 96 Walter Street/Suite 200 Boston, MA 02131 USA The Internationalist • www.internationalist.com • 617-354-7755 1 The Internationalist ® The Top 10 Guide to New York The Internationalist® International Business, Investment and Travel Published by: The Internationalist Publishing Company 96 Walter Street/Suite 200 Boston, MA 02131, USA Tel: 617-354-7722 [email protected] Author: Patrick W. Nee Copyright © 2001 by PWN The Internationalist is a Registered Trademark. The Top 10 Guide to New York City, The Top 10 Travel Guides, The Top 10 Guides are Trademarks of the Internationalist Publishing Company. All right are reserved under International, Pan-American and Pan-Asian Conventions. No part of this book, no lists, no maps or illustration may be reproduced in any form without the written permission of the publisher. All rights vigorously enforced. ISBN: 1-891382-21-7 Special Sales: Books of the Internationalist Publishing Company are available for bulk purchases at special discounts for sales promotions, corporate identity programs or premiums. The Internationalist Publishing Company publishes books on international business, investment and travel. For further information contact the Special Sales department at: Special Sales, The Internationalist, 96 Walter Street/Suite 200, Boston, MA 02131. The Internationalist Publishing Company 96 Walter Street/Suite 200 Boston, MA 02131 USA Tel: 617-354-7722 [email protected] e-mail: [email protected] web site: http://www.internationalist.com The Internationalist • www.internationalist.com • 617-354-7755 2 The Internationalist ® The Top 10 Guide to New York Welcome to New York City.
    [Show full text]
  • What's Next Is
    WHAT’S NEXT IS NOW New, ready and equipped for the future, these HIGHLY FLEXIBLE workspaces are conducive to a variety of layouts FURNISHED PREBUILTS with flexibility for subsequent layout changes. 360° VIRTUAL TOUR Please click to view 360 tour that includes the functionality to alternate between three floor plan density options RXR – in partnership with industry leaders Microsoft, Northwell Health, WORXWELL: Gensler, Steelcase, and Teknion – is revolutionizing the prebuilt environment by adding technology, health, and tailored services to place the power of data MOVE RIGHT IN and insights into the hands of our customers. FLEXIBILITY IS IN YOUR HANDS RXR has engaged a world-class team of technology, health, and design experts to create the prebuilt of the future. WorxWell, our new service platform, includes sophisticated design, flexibility in spatial layouts, state-of-the-art health and wellness technology, and personalized services to foster in-building community and productive work culture. Each suite is STATE-OF-THE-ART fully furnished using Teknion or Steelcase products SUITES COMPLETE WITH: wired with CAT-6 low voltage cabling technology-equipped with WiFi access • Fully furnished using Teknion or Steelcase products points, AV equipment, security cameras, • Wired with CAT-6 low voltage cabling and occupancy sensors • Technology-equipped with WiFi access points, AV equipment, security and includes the following features: cameras, and occupancy sensors AND INCLUDES THE FOLLOWING FEATURES: FLEXIBILITY SERVICES Flex Zones along each
    [Show full text]
  • Dear Guest, Welcome to the Central Park North. We Will Do All We Can T
    Dear Guest, Welcome to The Central Park North. We will do all we can to make your stay with us an enjoyable experience. If there is anything that we can do to make you more comfortable, please let us know. We hope that you will enjoy your time in New York with us and we will be happy to see you again in the future! Sincerely, The Central Park North Management Our Address: 137 West 111th St. New York, NY 10026 Tel: +1 212 662 2300 Fax: +1 347 824 2033 Email: [email protected] Web: www.central-park-north.com House Rules A more complete list can be found on our website www.central-park-north.com Check in time is 3:00 PM and Check out time is 11:00 AM. Not Vacating rooms without approval of management will result in a fine of $100 charged directly to the guest’s credit card. Cancellation policy: For cancellations made less than 7 days before the check in date, or if the guest Vacates the room prior to the check out date as indicated on the reserVation, the amount of the total stay shall be retained by the Inn as liquidated damages. Please see website for additional cancellation policies. Damage to Property: The guest understands that he/ she is liable for any and all damages to the property or the equipment in the property during his/her stay. The guest agrees that his/her credit card will be debited for the full amount of damages caused by the guest.
    [Show full text]
  • Manhattan Office Market
    Manhattan Offi ce Market 2 ND QUARTER 2015 REPORT A NEWS RECAP AND MARKET SNAPSHOT Pictured: 1001 Avenue of the Americas Looking Ahead Partnership for New York City: New York’s Future as the World Financial Capital The report released in June concluded that while New York City remains the preferred location of global fi nancial companies to establish their headquarters, there is a growing trend to relocate jobs and business operations to lower cost, more business-friendly locations that are beyond the city’s border. A comprehensive survey was conducted in collaboration with Gerson Lehrman Group (GRG), intending to better understand how the fi nancial industry is evolving; and what measures are required to solidify New York’s competitive advantage as a global fi nancial center. Collected data represents an overview of the responses from 50-fi rm respondents that included large banks, insurance companies and asset managers, private equity fi rms, hedge funds, and fi nancial technology (FinTech) startups; and represent about 1/3rd of the total industry employment in the city. Additionally, observations were included from 8-real estate fi rms that were surveyed; along with interviews from other related experts in the fi eld. Financial Industry – an economic snapshot • Contributes 20% of the city’s economic output, representing twice that of the next top-grossing industry. • Accounts for nearly 1/3rd of the city’s private sector payroll, despite accounting for only 8%, or about 310,000 of the city’s private sector jobs in 2013; of which 23,000 jobs are high-technology in the areas of software, data processing and network management.
    [Show full text]
  • Awakened S E N S E a R R I V
    AN AWAKENED SENSE OF ARRIVAL $150 million full property redevelopment New through-building lobby connecting 51st to 52nd Street with state of the art access and security systems The lobby features double ceiling heights and artist-commissioned bronze elevator doors The street level facade is reinstated with tempered monolithic glass and light statuary bronze mullions Expressions in color and light invigorate the lobby Permanent art installation by Markus Linnenbrink 7x90 foot Poured Resin STATE OF THE ART FOR TODAY AND TOMORROW Destination dispatch high speed elevators Optimized fiber optics telecommunication Increased finished ceiling height potential up to nine feet Highly efficient windows State of the art HVAC system Fully updated kitchenettes On trend designed elevator lobbies EXCLUSIVE TENANT MEMBERSHIP Convene at 75 Rockefeller Plaza is a multi-floor workplace that provides premium off-site meeting rooms as well as a members-only work and social club. FOR MORE INFORMATION, VISIT CONVENE.COM OR CLUB75.COM Powered by best-in-class hospitality, Convene is the ideal destination for hosting, entertaining and cultivating your most important relationships. CAREFULLY CURATED To fuel creativity, ignite minds and provide inspiration THE DESTINATION OF ICONIC CULTURE In the heart of history and style CLASSIC NEW YORK CITY Steps from the iconic St. Patrick’s Cathedral and the 21 Club, an upscale former speakeasy serving traditional American fare in a classic New York setting Within steps of world renowned dining, Radio City Music Hall and Fifth Avenue’s luxury row Museum of Modern Art, extraordinary exhibitions and collections of modern and contemporary art TIMELESS AND TIMELY Space conducive to a variety of layouts TRADITIONAL AND HIGHLY FLEXIBLE DISTINGUISHED AND ACCOMPLISHED $150 million redevelopment completed 2017 PROPERTIES SPECIFICATIONS SUMMARY GENERAL CONSTRUCTION HOURS OF OPERATION Standard hours of HVAC operation are 8 a.m.
    [Show full text]
  • Manhattan Retail Market MID-3RD QUARTER 2019 REPORT
    Manhattan Retail Market MID-3RD QUARTER 2019 REPORT Pictured: 19 Union Square West Looking Ahead City Council Approves Bill Requiring Registration of Storefronts On February 23rd the city council approved a bill that if signed into law by Mayor de Blasio will require the Department of Finance (DOF) to collect data and establish a public dataset of ground fl oor or 2nd fl oor commercial premises throughout New York City. Landlords and property owners will be required to register no later than one year after the effective date of the enactment of the amendment to local law; and in each year thereafter according the text posted on the city council’s website. The bill had initially been proposed in March among several others aimed at protecting small independently-owned businesses; but modifi cations have shifted the responsibility of the creation and maintenance of the publicly accessible online database from the Department of Small Business Services (SBS) to the DOF. The searchable dataset labeled by some as a Storefront Tracker is expected to be established by the DOF no later than (6) months after receiving owner submissions; and be based upon registrations fi led during the previous year. Requirements differing for Class 1 property owners, electronic registration submissions to the DOF as part of the annual income and expense statement submission will include: 1. The street address of the premises, including borough, community board district, block and lot number, and zip code; 2. The tax identifi cation number of the property owner; 3. A brief description of the type of the premises, including its current use; 4.
    [Show full text]
  • NEW YORK YIMBY April 08, 2016 425 Park Avenue, Pioneer of Modernism
    April 8, 2016 425 Park Avenue, Pioneer Of Modernism, Loses Half Its Height To Make Way For 893-Foot-Tall 21st Century Beacon 425 Park Avenue. March 2016. Looking northeast. Photos by the author unless indicated otherwise. BY: VITALI OGORODNIKOV 4:30 PM ON APRIL 8, 2016 Park Avenue is about to get its rst new ofce tower in decades as the 1957 ofce tower at 425 Park Avenue (catty corner to Rafael Viñoly’s 1,396-foot-tall 432 Park Avenue), once the pinnacle of modernity, is being reinvented for the 21st century via a partial demolition and a dramatic, 893-foot-tall restructuring by developer L&L Holdings and architects at Foster + Partners. The 27,950-square-foot site between East 55th and East 56th streets once supported a 30-story, 388-foot-high, 585,000-square-foot ofce building erected between 1954 and 1957. It was designed by the partnership of Kahn & Jacobs, who produced 61 buildings in New York during their 27-year tenure. At the time, the building’s clean vertical lines were among the rst of their kind on Park Avenue, predating the landmark Seagram Building by a year. 425 Park in 2014. Looking southeast. Universal Pictures Building is on the left. In 1831, the New York and Harlem Railroad was laid out along Park Avenue, known as Fourth Avenue at the time. The double tracks passed next to mostly open, rural land. In 1839, a cow was struck by a train at the intersection of East 58th Street. The new railroad spurred rapid development along its run, particularly after CorneliusV anderbilt took control in the 1860s and built the Grand Central Depot at 42nd Street in 1871.
    [Show full text]
  • 30 Rockefeller Plaza - Wikipedia Coordinates: 40°45′32″N 73°58′44″W
    9/15/2019 30 Rockefeller Plaza - Wikipedia Coordinates: 40°45′32″N 73°58′44″W 30 Rockefeller Plaza 30 Rockefeller Plaza is an American Art Deco skyscraper that forms 30 Rockefeller Plaza the centerpiece of Rockefeller Center in Midtown Manhattan, New York (Comcast Building) City. Formerly called the RCA Building from 1933 to 1988, and later the GE Building from 1988 to 2015, it was renamed the Comcast Building in 2015, following the transfer of ownership to new corporate owner Comcast. Its name is often shortened to 30 Rock. The building is best known for housing the headquarters and New York studios of television network NBC, as well as the Rainbow Room restaurant. At 850 feet (260 m) high, the 66-story building is the 22nd tallest in New York City and the 47th tallest in the United States. It stands 400 feet (122 m) shorter than the Empire State Building. 30 Rockefeller Center underwent a $170 million floor-by-floor interior renovation in 2014. Contents History Construction As the GE Building, October 2005 Early tenants 20th century 21st century Building description Art Rainbow Room Observation deck NBC Studios Gallery See also Wikimedia | © OpenStreetMap References Former names RCA Building (1933– Notes 1988) Citations Bibliography GE Building (1988– Further reading 2015) External links Alternative names 30 Rock General information History Status Complete Type Offices and television studios (NBC) Construction Location 30 Rockefeller Plaza https://en.wikipedia.org/wiki/30_Rockefeller_Plaza 1/15 9/15/2019 30 Rockefeller Plaza - Wikipedia The New York, NY 10112 construction of Coordinates 40°45′32″N Rockefeller 73°58′44″W Center Completed 1933 occurred between 1932 Owner NBCUniversal (floors and 1940[a] on 2–16) land that John Tishman Speyer (all D.
    [Show full text]
  • Modern Steel May 2019
    May 2019 PRESIDENTIAL AWARD FOR ERECTION ENGINEERING TO FACILITATE ADAPTIVE REUSE 75 Rockefeller Plaza, New York WHEN THE 34-STORY 75 Rockefeller Plaza was built in 1947, One of the most significant structural updates included recon- it was the tallest completely air-conditioned building in New York figuring the lobby into a double-height, 24-ft-high space connect- and the first skyscraper at Rockefeller Center. ing 51st and 52nd Streets. The former black granite at the lobby’s Located on 51st Street between Fifth and Sixth Avenues in Mid- interior has been replaced with white marble walls and terrazzo town Manhattan, the steel-framed building totals 623,000 sq. ft, floors. The same Indiana limestone that clads the exterior of with typical floor plates ranging from 14,000 sq. ft to 30,000 sq. ft. the building is also used for two walls of the interior. The lobby The building has recently undergone a major repositioning, includ- includes a skylight and gallery space that will exhibit revolving ing restoration of the façade and base metalwork, retail, and lobby public art. The main lobby finishes continue to the ground-floor enhancements and new mechanical infrastructure. elevator lobbies, where artist-designed bronze elevator doors open Every aspect of the updated building, which anticipates LEED to reveal refurbished elevator cabs. Gold certification, has been meticulously reinvented to provide a The lobby renovation required the removal of four columns building worthy of its stature and location. The street-level façade at the ground floor, three of which supported existing transfer is reinstated with tempered monolithic glass, bronze mullions, and girders.
    [Show full text]
  • RXR 2413 Third Owner LLC Alexandra Escamilla 75 Rockefeller Plaza, Suite 1500 New York, NY 10019
    NEW YORK STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION Division of Environme ntal Re mediation, Office of the Director 625 Broadway, 12th Floor, Albany, NY 12233-7011 P: (518) 402-9706 I F: (518) 402-9020 www.dec.ny.gov August 11, 2020 RXR 2413 Third Owner LLC Alexandra Escamilla 75 Rockefeller Plaza, Suite 1500 New York, NY 10019 RE: Site Name: 2413 Third Avenue Site No.: C203137 Location of Site: 2413 Third Avenue, Bronx County, Bronx, NY 10451 Dear Ms. Escamilla: To complete your file, attached is a fully executed copy of the Brownfield Cleanup Agreement for the 2413 Third Avenue Site. If you have any further questions relating to this matter, please contact the project attorney for this site, Leia Schmidt, Esq., NYS Department of Environmental Conservation, Office of General Counsel, 625 Broadway Albany, NY 12233-1500 or by email at [email protected]. Sincerely, _______________________________ Michael J. Ryan, P.E. Director Division of Environmental Remediation Enclosure ec: Meghan Medwid, Project Manager cc: Leia Schmidt, Esq. Jennifer Andaloro, Esq./Dale Thiel ':'K I Department of ATE Environmental Conservation 5 (1 NEW YORK STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION BROWNFIELD CLEANUP PROGRAM ECL §27-1401 et seq. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ In the Matter of a Remedial Program for BROWNFIELD SITE CLEANUP AGREEMENT Index No. C203137-07-20 2413 Third Avenue DEC Site No:C203137 Located at: 2413 Third Avenue Bronx County Bronx, NY 10451 Hereinafter referred
    [Show full text]