Billy Macklowe Turns 636 Avenue of the Americas Into the SecondMarket Building
Jim Hanas Aug. 3, 2011, 11:39 a.m.
Billy Macklowe has filled up the first building he bought without dad Harry.
Investment vehicle SecondMarket Holdings has taken about 50,000 square feet in floors three through six of 636 Avenue of the Americas in the flatiron. The 10-year lease brings the 90,000-square-foot building owned by William Macklowe Company and Clarion Partners to 100 percent occupancy. Asking rents were between $55 and $60 per square foot.
The lease makes the firm the building’s anchor tenant, and, therefore, ladies and gentlemen of New York, you now have the SecondMarket Building. The firm will ditch its current digs at 26 Broadway in early 2012.
Jim Wenk, Paul Formichelli, Dan Suozzi, and John Lewis of Jones Lang LaSalle represented SecondMarket. Mitchell Konsker, Matthew Astrachan, Jonathan Tootell and Matt Ginberg, also of JLL, represented the ownership.
The SecondMarket deal comes only a few months after Mr. Macklowe hired the Jones Lang LaSalle team led by Mr. Konsker to fill the building. Not bad.