Landlords looking to woo the next generation of tenants in the trendy and tight Midtown South district have embraced imaginative designs in their front lobbies and reception areas as the district takes on a “cultural indicator” status previously held by more heralded traditional office properties on Park and Madison Avenues, said Thomas Vecchione, the design director and principal of the Gensler architecture, design and branding firm. “Lobbies are starting to engage communities so that there’s a community of like-minded tenants there,” Mr. Vecchione explained. “They’re not about the big corporate presence anymore; they’re about the cultural touch points.”
Commercial Observer collected a snapshot group of six office buildings in Midtown South where landlords or tenants have implemented novel approaches to greeting employees and visitors in their lobbies, including two from Gensler.
Veracen Partners is among a set of several new tenants to take space at Boston Properties’ 250 West 55th Street, signing a 10-year, 11,263-square-foot lease for a portion of the 16th floor at the 38-story tower.
CBRE, which represented the landlord, announced the lease concurrently with a 7,196-square-foot deal with RTW Investments & LifeSci Capital and a 4,806-square-foot Coltrane Asset Management lease. All three firms will occupy the 16th floor of the building, which features new high-end prebuilts designed by Gensler, with 10-foot ceilings and perimeter offices.
Last month, Cushman & Wakefield lost broker Andrew Sachs to Newmark Grubb Knight Frank in what could have been a blow to the firm’s leasing assignment at The Moinian Group’s 535-545 Fifth Avenue. After careful consideration, however, the landlord elected to stick with C&W and Bruce Mosler will lead a new leasing team at the East Midtown building.
“We are sorry to see the old team go,” said Gregg Weisser of the Moinian Group. “We certainly had an opportunity to look at other teams and other companies and we did that but there’s something to be said for feeling comfortable with the people you work with, C&W does that for us.”
The Moinian Group will begin the final phase of renovations at 60 Madison Avenue in the fourth quarter of this year, The Commercial Observer has learned.
Improvements at the 13-story, 195,000-square-foot Midtown South building will include a new glass and stone lobby designed by the architecture firm Gensler, new elevator cabs, updated common corridors and an advanced security system.
Law firm Patterson Belknap Webb & Tyler has signed a 20-year lease for 200,000 square feet of at the recently renovated 1133 Sixth Avenue in Times Square, The Commercial Observer has learned.
The firm resigned a lease for floors 18 through 26 that it first inked 20 years ago. The Durst Organization’s in-house broker Tom Bow represented the landlord, while Ira Schuman of Studley represented the tenant – the same brokers who completed the firm’s lease in the building 20 years ago.
The 1.1 million square foot, 45-story Emery Roth & Sons-designed building was completed by The Durst Organization in 1970 and recently underwent a seven-month lobby renovation, overseen by the architecture firm Gensler.
Technology firm Epiq Systems is on the brink of signing a lease for roughly 100,000 square feet of office space at 685 Third Avenue, The Commercial Observer has learned.
A source familiar with the deal said it was slated to close towards the end of last week, but the deal had not closed by press time.
“A couple more days,” the source said.
Chadbourne & Parke has signed a 20-year, 200,000-square-foot lease at 1301 Avenue of the Americas, space into which the firm will relocate its Manhattan headquarters from nearby Rockefeller Center, the company announced.
In a statement, the law firm said it would begin the move immediately but that the full transition would take time in order to allow it to outfit parts of the space with a new office installation, which it said will be designed by Gensler, a leading interior design architect.
Architects’ prospects are no longer crumbling in the city! Only a year or two ago, they were the most unemployed profession in the country, but after a better 2010 for many New York City firms, things continue to look, uh, up. It is a good sign for the wider real estate and construction community, as Read More