DOCSLIB.ORG

120 Wall Street James Hagy New York Law School, [email protected]

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
120 Wall Street James Hagy New York Law School, James.Hagy@Nyls.Edu digitalcommons.nyls.edu Academic Centers and Programs Rooftops Project Spring 2017 Perspectives - 120 Wall Street James Hagy New York Law School, [email protected] Alison Snyder New York Law School, [email protected] Follow this and additional works at: http://digitalcommons.nyls.edu/rooftops_project Part of the Business Organizations Law Commons, Land Use Law Commons, Legal Education Commons, Organizations Law Commons, Property Law and Real Estate Commons, Social Welfare Law Commons, State and Local Government Law Commons, and the Tax Law Commons Recommended Citation Hagy, James and Snyder, Alison, "Perspectives - 120 Wall Street" (2017). Rooftops Project. 43. http://digitalcommons.nyls.edu/rooftops_project/43 This Article is brought to you for free and open access by the Academic Centers and Programs at DigitalCommons@NYLS. It has been accepted for inclusion in Rooftops Project by an authorized administrator of DigitalCommons@NYLS. THE ROOFTOPS PROJECT Perspectives 120 Wall Street Through a decades-long collaboration with the city and savings really amounted to a 10-percent or 15-percent reduction in occupancy cost versus what they would pay at another building in the same marketplace. state, not-for-profit tenants occupy office space in a Once the program was put in place, the occupancy of the building became landmarked structure in the heart of Wall Street with the predominately not-for-profits. unusual advantage of no real estate taxes. The Rooftop RTP: How much of the property did you original intend to be occupied by Project’s Alison Snyder and Professor James Hagy not-for-profits? interview Jeremy Moss and Camille McGratty of Jeremy: The program actually established thresholds. Working with the EDC, Silverstein Properties at the iconic 120 Wall Street Silverstein Properties established benchmarks. As each of those benchmarks building in lower Manhattan. was hit, subsequently the benchmark was raised. So, I think at one point the building had over half-a-million square feet of not-for-profit occupancy. It was RTP: Tell us the history of this project and its designation as a space for not- predominately not-for-profits. Some 30 not-for-profits have made this their for-profits. home at one point or another during the course of the program, and a lot of them are still here. A lot of them have renewed. When the program expired Jeremy: In 1992, the city of New York, and specifically the Economic in 2009, it gave us an opportunity to sit down and talk about whether there Development Corporation [EDC], was seeking to identify a strategy for providing was merit to extending the program. Everybody agreed. Many of the not-for- low-cost office space for non-for-profits that were being priced out of New York profits in the building were very vocal about the importance of reestablishing City, certainly out of Manhattan. In doing so, they were trying to keep [not-for- the program. At that time, they were again faced with rising rental rates profits] here, as employers of many people and also as providers of a lot of social and concerns that, in the absence of the program, they would have to find services that supplement many of the services the city and state provide. There alternatives outside the city. The New York State Economic Development was clearly a recognition of the importance, from a public policy perspective, Corporation sponsored the program’s renewal. That means the program will of keeping the physical location of these not-for-profits here in New York City. be in place here for quite some time. So, at the time, we at Silverstein Properties were selected as the owner to work with the city to structure a program that would provide reduced-cost office RTP: We consistently hear from not-for-profits that rising commercial rents space. 120 Wall Street was specifically selected as the location where that are increasingly a problem for them across all five boroughs now, not just in would be implemented, in part because the building had a significant amount of Manhattan. Is that your impression? availability. So once the program was put in place, the building would actually Jeremy: Many of the secondary and tertiary business districts, whether it is be able to accommodate a large number of not-for-profits. Jamaica, Queens, or Long Island City, or Downtown Brooklyn, which had been RTP: So Silverstein owned the building already? good alternatives to Manhattan, are also seeing significant price increases driven by good things. This is driven by the growth of our economy and job growth, Jeremy: Yes, Silverstein owned the building already, since the 1980s. The particularly in industries that value those locations because of their proximity to program was very straightforward. Effectively, it provided a real estate tax the workforce that they are trying to attract. But again, the consequence for not- exemption for all not-for-profits that signed leases in the building. That for-profits is increasing overhead, which is a constant challenge. WE ARE NEW YORK’S LAW SCHOOL THE ROOFTOPS PROJECT Perspectives I would also say access to public transportation is critical for not-for-profits. It is not a surprise that not-for-profit salaries are not necessarily going to justify a car and driver, and you want to have the ability to draw talent from many different places. That’s what public transportation allows you to do. Also, if you are having people go out into the field or having people who are recipients of your services come to you, you want to be accessible. It is really the same value to transportation that any private company would have but more amplified. RTP: Does the mix of not-for-profits make your stacking and planning different than it is at your other properties? Jeremy: I don’t know that is necessarily the case. Camille, you would know if this is true. If you looked at the stack, do you see them gravitating towards the lower-cost base, not the high floors, or anything like that? Or are they pretty spread out? Camille: They are really spread out. I would say the difference is more on the sales side of the building—trying to target what types of tenants we go after. We are specifically trying to go after brokers that do a lot of work with not- for-profits. Some of the tenants that are in the tower may have signed their leases 10 or 15 years ago. So perhaps you might see them shifting towards other parts of the building. Jeremy: The leases roll every 10 years [or so], so the market environment when leases come up can vary. At this moment, I would say that the market is really strong, stronger than it has been in the last decade. So sure, if all the leases were rolling, you would see a reshuffling or reorganization of the RTP: From an administrative or mechanical perspective, the building [120 stack. But given that some of these tenants renewed when the market was Wall Street] is still assessed as one tax parcel and then you get a deduction not as strong, closer to 2008/2009, they are going to be enjoying their space for the tenants who are not-for-profits? for a decade or more. Jeremy: Correct. The idea is that the benefit flows directly through to the RTP: So the lengths of the leases are similar to normal commercial tenants? tenants and it is very specific space by space. We report to the city and the Jeremy: Yes. We see, consistently, the not-for-profits signing long-term leases. Department of Finance exactly who is occupying and how many square feet. I think it is a smart thing for them to do if they understand their headcount. Then the tax abatement is directed specifically to that tenant and flows They can really lock in a long-term rate and have some predictability in cost. through to the bill. So it really gives them the same benefit that they would have if they owned in a commercial condominium structure, except in this RTP: Do you find that not-for-profits think about their footprint and forecast case they don’t have to put up all that capital to buy an office space. They are their needs the same way commercial tenants do? Or do they not transact able to have all of the flexibility and benefits of being a tenant under a lease as frequently as commercial tenants, and so may not be as accustomed to but with the tax benefit you would have as an owner. thinking about forecasting? RTP: The basic components, other than the tax exemption, are the same as your Jeremy: I think those that attend The Rooftops Conference are much better commercial tenants? There is a base rent and then a share of operating costs? prepared for those types of questions. [The Rooftops Project team definitely blushed here.] But those who seek the advice of a good broker tend to be Camille: Yes, it is the same. better able to think through their current needs, their future needs, and RTP: In addition to availability, were there other characteristics why his structure the rights they need in a lease to get them though a 10- or 15- building was selected to work well for not-for-profits, such as its landmark year period. I think it is critical for not-for-profits to seek out good counsel status, or the footprint and the floor plan? in everything they do. I would say they have an even greater need to be vigilant in how they spend their funds and make sure they are getting the Jeremy: You hit on one of them, which is the footprint.
Load more

Recommended publications
  • Manhattan Year BA-NY H&R Original Purchaser Sold Address(Es)
    Manhattan Year BA-NY H&R Original Purchaser Sold Address(es) Location Remains UN Plaza Hotel (Park Hyatt) 1981 1 UN Plaza Manhattan N Reader's Digest 1981 28 West 23rd Street Manhattan Y NYC Dept of General Services 1981 NYC West Manhattan * Summit Hotel 1981 51 & LEX Manhattan N Schieffelin and Company 1981 2 Park Avenue Manhattan Y Ernst and Company 1981 1 Battery Park Plaza Manhattan Y Reeves Brothers, Inc. 1981 104 W 40th Street Manhattan Y Alpine Hotel 1981 NYC West Manhattan * Care 1982 660 1st Ave. Manhattan Y Brooks Brothers 1982 1120 Ave of Amer. Manhattan Y Care 1982 660 1st Ave. Manhattan Y Sanwa Bank 1982 220 Park Avenue Manhattan Y City Miday Club 1982 140 Broadway Manhattan Y Royal Business Machines 1982 Manhattan Manhattan * Billboard Publications 1982 1515 Broadway Manhattan Y U.N. Development Program 1982 1 United Nations Plaza Manhattan N Population Council 1982 1 Dag Hammarskjold Plaza Manhattan Y Park Lane Hotel 1983 36 Central Park South Manhattan Y U.S. Trust Company 1983 770 Broadway Manhattan Y Ford Foundation 1983 320 43rd Street Manhattan Y The Shoreham 1983 33 W 52nd Street Manhattan Y MacMillen & Co 1983 Manhattan Manhattan * Solomon R Gugenheim 1983 1071 5th Avenue Manhattan * Museum American Bell (ATTIS) 1983 1 Penn Plaza, 2nd Floor Manhattan Y NYC Office of Prosecution 1983 80 Center Street, 6th Floor Manhattan Y Mc Hugh, Leonard & O'Connor 1983 Manhattan Manhattan * Keene Corporation 1983 757 3rd Avenue Manhattan Y Melhado, Flynn & Assocs. 1983 530 5th Avenue Manhattan Y Argentine Consulate 1983 12 W 56th Street Manhattan Y Carol Management 1983 122 E42nd St Manhattan Y Chemical Bank 1983 277 Park Avenue, 2nd Floor Manhattan Y Merrill Lynch 1983 55 Water Street, Floors 36 & 37 Manhattan Y WNET Channel 13 1983 356 W 58th Street Manhattan Y Hotel President (Best Western) 1983 234 W 48th Street Manhattan Y First Boston Corp 1983 5 World Trade Center Manhattan Y Ruffa & Hanover, P.C.
    [Show full text]
  • 2017 Annual Report Reaching Out, Making Connections, and Following Through with Treatment and Housing Services That Change Lives Is Demanding Work
    2017 Annual Report Reaching out, making connections, and following through with treatment and housing services that change lives is demanding work. The men and women who work in Odyssey House’s community-based programs understand what is at stake when substance misuse or mental health problems are not treated. While they see the pain of addiction and the tragedy of lives cut short, they also see hope in recovery and lives saved. Helping New Yorkers overcome life challenges keeps us going and keeps us on the front lines. In this report, read about how volunteer recovery coach Jesse Westbrook and his colleagues at the Odyssey House Recovery Center are reaching out and connecting with families, adolescents, and seniors in their South Bronx community. Building community and saving lives IT IS THE MISSION OF ODYSSEY HOUSE: To provide comprehensive and innovative services to the broadest range of metro New York’s population who: • Abuse drugs • Abuse alcohol • Suffer from mental illness To provide high quality, holistic treatment impacting all major life spheres: psychological, physical, social, family, educational and spiritual. To support personal rehabilitation, renewal and family restoration. In all of its activities, Odyssey House undertakes to act as a responsible employer and member of the community, and manage the assets of the organization in a professional manner. 1 WHAT YOU CANNOT DO ALONE, WE CAN DO TOGETHER Treatment and recovery services are at the heart of treatment programs. However, treatment is of what we provide at Odyssey House. Supporting just the beginning of what it takes to save a New Yorkers and their families as they overcome life.
    [Show full text]
  • Skyscrapers and District Heating, an Inter-Related History 1876-1933
    Skyscrapers and District Heating, an inter-related History 1876-1933. Introduction: The aim of this article is to examine the relationship between a new urban and architectural form, the skyscraper, and an equally new urban infrastructure, district heating, both of witch were born in the north-east United States during the late nineteenth century and then developed in tandem through the 1920s and 1930s. These developments will then be compared with those in Europe, where the context was comparatively conservative as regards such innovations, which virtually never occurred together there. I will argue that, the finest example in Europe of skyscrapers and district heating planned together, at Villeurbanne near Lyons, is shown to be the direct consequence of American influence. Whilst central heating had appeared in the United Kingdom in the late eighteenth and the early nineteenth centuries, district heating, which developed the same concept at an urban scale, was realized in Lockport (on the Erie Canal, in New York State) in the 1880s. In United States were born the two important scientists in the fields of heating and energy, Benjamin Franklin (1706-1790) and Benjamin Thompson Rumford (1753-1814). Standard radiators and boilers - heating surfaces which could be connected to central or district heating - were also first patented in the United States in the late 1850s.1 A district heating system produces energy in a boiler plant - steam or high-pressure hot water - with pumps delivering the heated fluid to distant buildings, sometimes a few kilometers away. Heat is therefore used just as in other urban networks, such as those for gas and electricity.
    [Show full text]
  • Bfm:978-1-56898-652-4/1.Pdf
    Manhattan Skyscrapers Manhattan Skyscrapers REVISED AND EXPANDED EDITION Eric P. Nash PHOTOGRAPHS BY Norman McGrath INTRODUCTION BY Carol Willis PRINCETON ARCHITECTURAL PRESS NEW YORK PUBLISHED BY Princeton Architectural Press 37 East 7th Street New York, NY 10003 For a free catalog of books, call 1.800.722.6657 Visit our website at www.papress.com © 2005 Princeton Architectural Press All rights reserved Printed and bound in China 08 07 06 05 4 3 2 1 No part of this book may be used or reproduced in any manner without written permission from the publisher, except in the context of reviews. The publisher gratefully acknowledges all of the individuals and organizations that provided photographs for this publi- cation. Every effort has been made to contact the owners of copyright for the photographs herein. Any omissions will be corrected in subsequent printings. FIRST EDITION DESIGNER: Sara E. Stemen PROJECT EDITOR: Beth Harrison PHOTO RESEARCHERS: Eugenia Bell and Beth Harrison REVISED AND UPDATED EDITION PROJECT EDITOR: Clare Jacobson ASSISTANTS: John McGill, Lauren Nelson, and Dorothy Ball SPECIAL THANKS TO: Nettie Aljian, Nicola Bednarek, Janet Behning, Penny (Yuen Pik) Chu, Russell Fernandez, Jan Haux, Clare Jacobson, John King, Mark Lamster, Nancy Eklund Later, Linda Lee, Katharine Myers, Jane Sheinman, Scott Tennent, Jennifer Thompson, Paul G. Wagner, Joe Weston, and Deb Wood of Princeton Architectural Press —Kevin Lippert, Publisher LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA Nash, Eric Peter. Manhattan skyscrapers / Eric P. Nash ; photographs by Norman McGrath ; introduction by Carol Willis.—Rev. and expanded ed. p. cm. Includes bibliographical references. ISBN 1-56898-545-2 (alk.
    [Show full text]
  • NY Skyscrapers : Über Den Dächern Von New York City
    Dirk Stichweh Fotografien von Jörg Machirus Scott Murphy SKYSCRAPERS ÜBER DEN DÄCHERN VON NEW YORK CITY PRESTEL München London New York INHALTSVERZEICHNIS 5 Vorwort 6 Die Geschichte der New Yorker Wolkenkratzer - Eine kleine Zeitreise DOWNTOWN SKYSCRAPERS 14 Einleitung 28 60 Wall Street 48 30 Park Place 16 Trump Building 30 70 Pine Street 50 Barclay-Vesey Building 18 Bankers Trust Company 32 One Chase Manhattan Plaza 52 World Trade Center Building 34 120 Wall Street (Twin Towers) 19 Bank of New York Building 35 Park Row Building 54 One World Trade Center 22 Standard Oil Building 36 New York by Gehry 60 World Financial Center 23 One New York Plaza 38 Municipal Building 62 West Street Building 24 55 Water Street 42 56 Leonard Street 63 One Liberty Plaza 26 20 Exchange Place 44 Woolworth Building 64 Equitable Building MIDTOWN SKYSCRAPERS 68 Einleitung 116 General Electric Building 157 Time-Life Building 70 Flatiron Building 118 Helmsley Building 158 XYZ Buildings 72 Metropolitan Life Tower 120 383 Madison Avenue 160 WR. Grace Building 74 Metropolitan Life North Building 122 JPMorgan Chase World 161 Fred F. French Building 78 New York Life Building Headquarters 162 500 Fifth Avenue 79 One Penn Plaza 124 Waldorf Astoria Hotel 164 Bank of America Tower 80 Empire State Building 126 Seagram Building 166 4 Times Square 86 American Radiator Building 130 Lever House 168 New York Times Tower 88 Lincoln Building 132 432 Park Avenue 170 McGraw-Hill Building 89 Chanin Building 134 Four Seasons Hotel 172 Paramount Building 90 MetLife Building 135 IBM
    [Show full text]
  • JUNE 16, 2021 Price: $4.00
    3621 VOLUME CXLVIII NUMBER 115 WEDNESDAY, JUNE 16, 2021 Price: $4.00 Water Supply ����������������������������������������������3653 Finance ����������������������������������������������������������3653 THE CITY RECORD TABLE OF CONTENTS Purchasing and Administration . 3653 Housing Authority ����������������������������������������3654 BILL DE BLASIO Procurement ������������������������������������������������3654 Mayor PUBLIC HEARINGS AND MEETINGS Human Resources Administration . 3654 Borough President - Manhattan . 3621 Contracts . 3654 LISETTE CAMILO City Planning Commission ��������������������������3621 Parks and Recreation . 3655 Commissioner, Department of Citywide Community Boards ��������������������������������������3648 Revenue and Concessions ��������������������������3655 Administrative Services Comptroller . 3649 Police ��������������������������������������������������������������3655 Board of Education Retirement System . 3649 Youth and Community Development . 3656 JANAE C. FERREIRA Housing Authority ����������������������������������������3649 Procurement ������������������������������������������������3656 Editor, The City Record Landmarks Preservation Commission . 3650 Rent Guidelines Board . 3651 CONTRACT AWARD HEARINGS Published Monday through Friday except legal Education ������������������������������������������������������3664 holidays by the New York City Department of PROPERTY DISPOSITION Citywide Administrative Services under Authority Citywide Administrative Services ��������������3651 AGENCY RULES of Section
    [Show full text]
  • Time to Be Creative
    www.nycfuture.org OCTOBER 2010 Taking advantage of the real estate downturn to create affordable spaces for NYC’s creative sector CONTENTS INTRODUCTION 3 RECOMMENDATIONS 7 PART 1: Seize the opportunity to craft permanent 8 solutions to the space problem SIDEBAR: Is New York losing its status as a global 22 arts center? This report was written by Jonathan Bowles, ed- ited by David Jason Fischer and David Giles, PART 2: Help nonprofit arts groups reduce costs and 23 and designed by Ahmad Dowla. Additional become more efficient research by Susanna Aaron, Tara Colton, Da- vid Giles, Pam Corbett, Dasha Mikic, Joshua APPENDIX: OPPORTUNITY IN CRISIS 28 Rinaldi, Morgan Schofield and Julie Simon. The report was also informed by our “Time to FOOTNOTES 32 be Creative” conference, held on September 20, 2010 at the headquarters of Grey Group. Speakers included Patricia Cruz, Eric Gural, Shawn McLearen, Sam Miller, Seth Pinsky, Re- becca Robertson, Elizabeth Streb, Mary Ann Tighe and Paul Wolf. The report was funded by the Rockefeller Foundation. General operating support for City Futures has been provided by Bernard F. and Alva B. Gimbel Foundation, Deutsche Bank, Fund for the City of New York, Sales- force Foundation, The Scherman Foundation, Inc., and Unitarian Universalist Veatch Pro- gram at Shelter Rock. The Center for an Urban Future is a New York City-based think tank dedicated to indepen- dent, fact-based research about critical issues affecting New York’s future, including eco- nomic development, workforce development, higher education and the arts. For more in- formation or to sign up for our monthly e-mail bulletin, visit www.nycfuture.org.
    [Show full text]
  • Green Spaces Profile for Manhattan Community Board 1 September 2014
    Green Spaces Profile for Manhattan Community Board 1 September 2014 As referenced in the Manhattan Community Board 1 (CB1) District Needs Report for FY 2016, CB1 advocates for a greening strategy for the district that includes green building infrastructure. Overall, this greening strategy should continue the trend of all new and retrofitted buildings, both commercial and residential, are Leadership in Energy and Environmental Design (LEED) rated and/or Energy Star certified. These measures can range from dirty heating oil conversions, white roofs, energy saving systems and other building infrastructure improvements. Projects proposed such as Rebuild by Design’s The Big U and the New York City Economic Development Corporation’s Southern Manhattan Multi-Purpose Levee will certainly help protect and fortify Lower Manhattan from future extreme weather events, but parallel investments in green adjustments and solutions can help minimize the need. In terms of the objective measures of “greenness”, CD1 fares well: the district enjoys a near perfect walkability score, easy access to world-class public transit and green space, and a medium to high rise and high density built environment. Nevertheless, despite the strengths and opportunities that CD1 has enjoyed in terms of greenness, the district still has considerable threats since much of the district lies within the Federal Emergency Management Agency (FEMA)-designated flood zone. Greater measures must be made to fortify CD1 from flooding. One solution to climate change would be to continue investing in the green construction and retrofitting of commercial, residential, and civic buildings. In light of the district’s accomplishments and challenges, this guide documents the state of green spaces within CD1.
    [Show full text]
  • Empire Building Challenge Company Overview
    Empire Building Challenge Company Overview • Founded in 1957; 400+ Employees • Developed, owned & managed 40 million SF of office, residential, hotel, retail & mixed-use properties • 16M+ Square Feet of Commercial, Residential, and Retail space across Manhattan, Philadelphia, and Los Angeles ; 2,300 multi-family units • 12 million+ SF of development underway • Entire New York Commercial Portfolio Certified LEED Gold Portfolio – 16M+ SF 1177 Ave of the Americas 120 Broadway 529 Fifth Avenue US Bank Tower Silver Towers + River Place 1735 Market Street 120 Wall Street 3 + 4 World Trade Center 7 World Trade Center SPI Carbon Neutral Building Definition and Commitment • SPI defines a carbon neutral building as: • An energy efficient building that drives down energy consumption and demand through tenant engagement, operational optimization, façade improvements and a beneficial level of electrification of building end uses with minimal disruption to building occupants; any remaining onsite carbon emissions are offset with the purchase of eligible renewable energy credits and carbon offsets. • SPI will commit to carbon neutrality in two (2) existing buildings as part of the Empire Building Challenge • 120 Broadway (The Equitable Building) • 1177 Avenue of the Americas (Americas Tower) • Each building is targeting carbon neutrality per the SPI definition by 2030 120 Broadway • Built in 1915 • 41 Floors – 1.9M Square Feet • Brick, terra cotta, and granite façade • Heating – Provided by steam through perimeter hot water radiation system • Cooling – Provided by combination of air and water cooled self contained AC units • LEED Gold Certified • Energy Star Rating: 81 • Current Site EUI: 52.2 1177 Avenue of the Americas • Built in 1992 • 48 Floors – 1M Square Feet • Granite façade • Heating – Provided by steam through perimeter hot water radiation system • Cooling – Provided by water cooled individual package units • LEED Gold Certified • Energy Star Rating: 75 • Current Site EUI: 70.2 Value of Partnership with NYSERDA.
    [Show full text]
  • 120 Wall Street Is an Art Deco Icon at the Center of a Vibrant Neighborhood Flowing with Lifestyle, Dining, and Entertainment
    120 WALL ST. PRIME WATERFRONT RETAIL OPPORTUNITIES WHERE WALL STREET MEETS SOUTH STREET PRIME RETAIL OPPORTUNITIES IN A WATERFRONT ICON 120 Wall Street is an Art Deco icon at the center of a vibrant neighborhood flowing with lifestyle, dining, and entertainment. This boutique office property invites an active local workforce as well as tourist foot-traffic while offering spectacular visibility and brand positioning in the bustling heart of Lower Manhattan. The Manhattes Group LLC THE MANHATTES GROUP, LLC | JAMISON WEINER | 212-312-9250 | [email protected] GROUND LEVEL | 5,359 SF SOUTH STREET CORNER SPACE POSSESSION IMMEDIATELY | IDEAL FOR RETAIL AND HOSPITALITY • Soaring 20′+ ceiling heights • Stunning views of the East River and Brooklyn skyline • Major capital improvements made in anticipation of qualified restaurants and F&B tenants. 40'′ • Located at the base of an iconic 665K SF office tower home to 3,500 employees owned and operated by Silverstein Properties. • Home to top-tier tenants such as Droga5, 125'′ one of NYC’s largest advertising firms. • Walking distance from some of NYC’s largest employers, such as AIG and Chase. LOWER LEVEL | 1,000 SF • Just blocks from the new Seaport District, World Trade Center and Oculus. • Landlord will provide base building infrastructure for qualified tenants. • Corner unit provides generous pedestrian exposure. • Lower Level space provides direct access to Ground Level retail which can be equipped to fit business needs. The Manhattes Group LLC THE MANHATTES GROUP, LLC | JAMISON WEINER | 212-312-9250 | [email protected] WALL STREET SPACE GROUND LEVEL | 4,220 SF POSSESSION IMMEDIATELY | IDEAL FOR HEALTH AND WELLNESS • Located at the base of an iconic 665K SF office tower home to 3,500 employees owned and operated by 40'′ Silverstein Properties.
    [Show full text]
  • Prestel Munich Berlin London New York
    NEWDIRK STICHWEH YORKPHOTOGRAPHY BY JÖRG MACHIRUS AND SCOTT MURPHY SKYSCRAPERS PRESTEL MUNICH BERLIN LONDON NEW YORK NY_SKYSCRAPERS_004_Essay_rl.indd 1 15.01.2009 18:12:13 Uhr NY_SKYSCRAPERS_004_Essay_rl.indd 2 15.01.2009 18:12:13 Uhr TABLE OF CONTENTS FOREWORD 4 CHAPTER 3: MIDTOWN SOUTH 64 CHAPTER 6: FIFTH AVENUE AND ROCKEFELLER CENTER 140 THE HISTORY OF SKYSCRAPERS 6 21. Flatiron Building 66 55. Trump Tower 142 22. Metropolitan Life Tower 68 56. General Motors Building 144 23. Metropolitan Life North Building 70 57. Sherry-Netherland Hotel 146 CHAPTER 1: THE FINANCIAL DISTRICT 16 24. New York Life Building 72 58. Solow Building 147 1. Equitable Building 18 25. Empire State Building 74 59. Museum Tower 148 2. Bank of New York Building 20 26. One Penn Plaza 78 60. Olympic Tower 149 3. Bankers Trust Company Building 22 27. New Yorker Hotel 79 61. Rockefeller Center / G.E. Building 150 4. Trump Building 24 28. American Radiator Building 80 62. CBS Building 154 5. 20 Exchange Place 26 29. Lincoln Building 82 63. Time-Life Building 156 6. Standard Oil Building 28 30. 100 Park Avenue 83 64. XYZ Buildings 158 7. One New York Plaza 29 31. Chanin Building 84 65. W.R. Grace Building 160 8. 55 Water Street 30 66. 500 Fifth Avenue 162 9. 120 Wall Street 32 CHAPTER 4: MIDTOWN EAST 86 67. Fred F. French Building 164 10. American International Building 34 32. Chrysler Building 88 11. 60 Wall Street 36 33. Daily News Building 92 CHAPTER 7: THE THEATER DISTRICT 166 12.
    [Show full text]
  • SEP 2 5 1989 REPOSITIONING MANHATTAN OFFICE BUILDINGS by Lesley D
    REPOSITIONING MANHATTAN OFFICE BUILDINGS by LESLEY D. CUMMIN Master of Landscape Architecture, 1980 Harvard University Bachelor of Landscape Architecture, 1977 University of Georgia and ANDREW H. POPIK Bachelor of Arts in Economics, 1981 University of Pennsylvania Submitted to the the Department of Urban Studies and Planning and the Department of Architecture in Partial Fulfillment of the Requirements of the Degree of Master of Science in Real Estate Development at the MASSACHUSETTS INSTITUTE OF TECHNOLOGY September 1989 @ Lesley D. Cummin and Andrew H. Popik, 1989 The authors hereby grant to MIT permission to reproduce and to distribute copies of this thesis document in whole or in part. Signature of Author_____ Lesley D. Cummin Dep tment of Architecture July 31, 1989 Signature of Author ,Andrew H. Popik Department of Urban Studies and P anning ,Jul~y 1989 Certified by Jam9' NcK-ellar Professor, Department of Architecture Thesis Supervisor Accepted by Michael' WIheeler Center for Real Estate Development Interdepartmental Degree Program in Real Estate Development SEP 2 5 1989 REPOSITIONING MANHATTAN OFFICE BUILDINGS by Lesley D. Cummin and Andrew H. Popik Thesis Advisor: James McKellar ABSTRACT There has been a trend in the Manhattan office market toward complete renovation and rehabilitation of existing office buildings while keeping the original use. This is referred to as repositioning because it is more than just maintaining or repairing these buildings. It is a process of redevelopment using a market driven approach, focusing not only on the physical structure of a building but also on intangible considerations of presence, image, and market position. Often this repositioning is based on the creation of specific market oriented strategies to raise the standing of a building in its original market.
    [Show full text]