Lease Beat

Private Equity Firm Signs One Grand Central Place Lease

1 Grand Central Place

Private equity group 3i has signed a 10-year, 12,723-square-foot lease at Empire State Realty Trust’s One Grand Central Place, Commercial Observer has learned.

Founded in 1945 with £15 million of capital, today 3i boasts nearly £12 billion of assets under management. The company, headquartered in London, operates offices worldwide and will relocate its New York location to the 41st floor of One Grand Central Place from 400 Madison Avenue. Read More

Sales Beat

The ‘King of Greene Street’ Sells for $41.5 Million

72-76 Greene Street sold two weeks ago for $41.5 million--$1,186 per square foot. (photo courtesy of Eastern Consolidated).

BSJ SoHo let go of 72-76 Greene Street last week for a reported sum of $41.5 million. The buyer—a partnership of Chicago-based L3 Capital and Washington, D.C.’s ASB Capital Management—paid $1,186 per square foot for the building known as “The King of Greene Street” because of its French renaissance-Second Empire architectural styling. It contains two Read More