With Midtown South pricing out tenants in search of smaller blocks of space, the Empire State Realty Trust has designed prebuilt office space on the 16th floor of 501 Seventh Avenue to harness the demand spilling over to other parts of the market.
Considering two types of prebuilds—office and creative—ESRT opted for creative, targeting media, tech and advertising firms. “We don’t cater to the garment industry anymore,” said Fred Posniak, senior vice president, frankly. Built for immediate occupancy, the four prebuilt spaces at 501 Seventh Avenue range in size from 2,641 square feet to 5,810 square feet.
Mr. Posniak spoke to The Commercial Observer last week about benefits and unique features offered on the 16th floor.
W&H Properties, a subsidiary of Malkin Holdings, has instituted two leasing programs at the repositioned 250 West 57th Street, whose operator has updated the lobby, added new elevator cabs, and renovated the public corridors, bathrooms and building systems.
The first offering is a prebuilt program, which Delta Dental has taken advantage of on the building’s sixth floor in a 2,348-square-foot space. The other is the PIO, or prepared for immediate occupancy program, which law firm Weinman Schnee Morais has opted for in a 1,862-square-foot suite on the 22nd floor.
Fred Posniak, senior vice president of Malkin Properties, spoke to The Commercial Observer about both leasing programs and spaces, offering details on the differences between them and how they appeal to individual tenants.
2012 Owners Magazine
When North American engineering consultancy Hatch Mott MacDonald sought to expand and relocate from its offices at 3 Park Avenue, officials explored buildings throughout Midtown and Midtown South, and initially they had no interest in 1400 Broadway, a 35-story building owned by W&H Properties.
All it took to change the minds of the executives, however, was a tour of the building’s 15,088-square-foot 30th floor, a space that, despite its size, boasts four separate terraces, including one that wraps around West 38th Street all the way to Broadway. Such amenities, not to mention the asset’s proximity to Grand Central Station and Penn Station, helped tip the scales in January, when officials inked a full-floor deal.
After the jump, Fred Posniak, a senior vice president at W&H Properties, reviews the floor plans with The Commercial Observer and discusses what, exactly, drew the consulting company to 1400 Broadway in Midtown.
On a balmy July afternoon, a few members of SL Green’s management staff pushed their way through the revolving doors of 711 Third Avenue, the company’s 500,000-square-foot, 20-floor tower between 44th and 45th Streets.
They passed through the gallery-style lobby, framed by both Greek Thassos white and De Savoi grey-blue marble, carrying a few boxes. An original Hans Hoffman mosaic mural, designed in 1956, adorned the hallway farther down.
They sliced open the boxes and put on green aprons emblazoned with the firm’s stylized logo—and so the ice cream party for the building’s tenants began.
In a market full of haves and have-nots, there are benefits to being the biggest fish in the pond.
Aronauer Re & Yudell will be moving its headquarters to 60 East 42nd Street.
The firm will occupy a 8,100 square foot office in the building known as One Grand Central Place. Amenities in the building feature a law library that contains over 10,000 volumes of federal and state law at no expense of the tenants. Asking rent was $49 per square foot.
Big-time real estate investment concern Ashley Capital leased nearly 5,000 square feet of prebuilt space on the 45th floor of W&H Properties‘ One Grand Central Place for its headquarters. The firm will relocate this month from 919 Third Avenue, according to an announcement from Fred Posniak, W&H’s senior vice president and all-around leasing Read More
The last thing Fred Posniak expected to hear when he walked into a regularly scheduled public relations meeting last week was that Malkin Holdings’ prestigious W&H brand of prewar Manhattan properties was on track for a record-shattering year. But in a year that most analysts would describe as positively inert, the portfolio is expected to Read More