3Q2013

Sunshine by the Square Foot

Aerial Photographs of New York City - Archive Images

While it did not rival what some recalled as a “blistering” second quarter, the Manhattan commercial real estate office market continued to gain momentum in the third quarter, and most real estate observers took the growth as a sign of more to come.

Positive absorption and rising rents throughout Manhattan are on track to rain in a strong end to the year, as Midtown remained steady, Midtown South shined, and Downtown turned heads.

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Tonight Moves

Once Johnny Carson’s Punchline, Seventh Floor 30 Rock Commissary to Be Home for Jimmy Fallon’s Tonight Show

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The drama engulfing NBC’s morning programming is, for the moment, drowning out the beleaguered network’s late night personnel shift. But The Tonight Show’s move back to New York could set up where 30 Rockefeller Center employees ate lunch.

Sources within NBC’s 30 Rock headquarters tell The Commercial Observer that when Jimmy Fallon replaces Jay Leno as Tonight Show host—and returns the gabfest to Midtown after four decades in Burbank, California—the program will film in a studio constructed on the seventh floor, where an NBC commissary once made famous as a routine punchline for Johnny Carson was located until a few month ago. Read More

Sales Beat

Comcast Seals its $1.3 B. Piece of 30 Rock

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Comcast has closed on its $1.3 billion purchase of 1.3 million square feet of office and studio space at 30 Rockefeller Plaza, city records confirm.

The transaction was part of the media and communications giant’s $16.7 billion purchase of a 49 percent stake in NBCUniversal from General Electric, announced last month.

The location, the centerpiece of Rockefeller Center, is host to the property’s annual Christmas tree lighting and inspiration for the title of NBC’s television series “30 Rock.” Read More

Sales Beat

Piece of 30 Rock Part of Comcast’s NBCUniversal Deal

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In one of the largest real estate deals in recent memory, Comcast will purchase from General Electric the properties used by NBCUniversal at iconic 30 Rockefeller Plaza and CNBC Headquarters as part of its acquisition of GE’s remaining 49 percent equity stake in the media company, it was announced earlier this week.

Though the building is owned by Tishman Speyer, the office and studio space at 30 Rock involved in the deal is owned by GE and is considered a commercial condo. GE will keep space in the building on the 52nd and 53rd floors.

The real estate component of the deal accounts for approximately $1.4 billion of the $16.7 billion transaction and trumps the $1.1 billion sale of the Sony Building to the Chetrit Group last month. Read More

Postings

Lifestyles of the Rich and Fictitious

Television Stars Map of New York.

» When the television series 666 Park Avenue debuts this Sunday, it will mark the latest example in a long tradition of writers and directors setting fictional lives in actual New York City real estate. Be it the Ansonia at 2109 Broadway, the real-life address associated with 666 Park Avenue, or 185 East 85th Street, the home of George and Louise Jefferson, the Big Apple is rife with real estate made famous through television shows. With that in mind, The Commercial Observer reached out to Jonathan Miller, president and chief executive of Miller Samuel, for his thoughts on value using what limited information was available back in the day of Manhattan’s most recognizable television co-ops, hangouts and offices spaces. And while the numbers may be surprising, what we still haven’t figured out after all these years is how Joey Tribbiani was able to rent all that prime West Village space on a struggling actor’s salary. Read More

Lease Beat

Perkins Coie Extends to Second Floor at 30 Rock

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Perkins Coie has signed a sublease expanding their office at 30 Rockefeller Plaza.

The law firm will be taking over Squire Sanders’ 24,258 square foot floor in the building. The office currently houses forty employees consisting of seventeen attorneys, a patent agent, and twelve general staff members.

“We are excited to expand our office space Read More