Starwood Capital to Open Office at 40 10th Avenue in Meatpacking District
By Chava Gourarie March 29, 2019 3:15 pm
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Barry Sternlicht’s investment firm Starwood Capital is moving to the Meatpacking District, the landlord announced.
The Miami-based retail investment firm signed a long-term lease for 14,258 square feet of the Studio Gang-designed 40 10th Avenue, Bloomberg first reported.
The space spans the entire eighth floor of the 10-story building between West 13th and West 14th Streets, which was developed by Aurora Capital Associates and William Gottlieb Real Estate.
Rob Martin at JLL (JLL) represented Starwood, and a JLL team comprised of Howard Hersch, Brett Harvey and Sam Seiler represented the landlords.
The deal has a 10-year term and asking rents were $185 per square foot, a source with knowledge of the deal said.
The 160,000-square-foot building is slated for completion this spring. The building is known as the Solar Carve Tower for its prism-like “curtain wall” which makes use of light-bending technology to avoid casting shadows on the surrounding area.
Genesis Motors, the luxury division of Hyundai Motor Company, occupies the 40,000-square-foot ground-level retail at the property, as Commercial Observer reported.
A JLL spokeswoman did not reply to request for comment.
