All Posts Tagged With: "11 Times Square"
Gehry Out at BAM, 510 Madison Tops Out, Wind Farm at Fresh Kills, & Glass on 11 Times Square
gbNYC selects green news items of note that were reported across the New York City area during the week of August 17, 2008, including Frank Gehry withdrawing (or perhaps not) from the Theater for a New Audience project at the BAM Cultural District in Fort Greene, the recent topping out of Macklowe Properties’ LEED Gold hopeful 510 Madison Avenue, a proposal for a wind farm on the Fresh Kills landfill in Staten Island, and the energy-efficient glass skin of SJP Properties’ 11 Times Square- also pursuing a LEED Gold rating- beginning to take shape above Eighth Avenue.
Popularity: 16% [?]
24Aug2008 | Stephen Del Percio | 0 comments | Continued
Seeking LEED Silver, 100 Park Avenue Bucks Market, Inks Anchor Tenant
SL Green’s 100 Park Avenue was the first of Park Avenue’s International Style high-rises. Located at the corner of East 40th Street, the modern glass and steel tower was completed in 1949 and replaced the Murray Hill Hotel, which dated from 1883 and whose residents put up a fierce battle against the new development. The building’s current owner, SL Green, is wrapping up an 18-month, $72 million capital improvement program that includes a LEED for Existing Buildings (”LEED-EB”) application aiming for a Silver rating from USGBC. The project includes upgraded building infrastructure, a new facade and windows, and a new lobby and elevators; BOMA named the tower its Best Renovated Building of the Year for 2007. Last week, accounting and consulting firm BDO Seidman signed a 121,441-square-foot lease across the tower’s 9th through 11th floors.
Popularity: 15% [?]
11Aug2008 | Stephen Del Percio | 0 comments | Continued
HSBC Close to Joining Silverstein at LEED Gold 7 World Trade Center
Last June, HSBC announced a five-year, $100 million partnership to address global climate change, agreeing to work with The Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute, and the World Wildlife Fund in order to quantify the impact of climate change on the world’s cities, forests, and rivers through extensive field research. Yesterday, sources told GlobeSt.com that the bank is close to continuing its sustainable efforts by leasing 300,000 square feet across seven of the final ten floors available at Larry Silverstein’s LEED Gold 7 World Trade Center. Should the deal close, HSBC would likely sell its 500,000-square-foot headquarters tower at 452 Fifth Avenue in Midtown. Asking rents for the final ten floors at 7 WTC are hovering between $75 and $85 per square foot, and HSBC’s deal is rumored to be “at term sheet at the moment.”
Popularity: 30% [?]
30Jul2008 | Stephen Del Percio | 0 comments | Continued
NBC Canvassing Manhattan for Green Office Space
According to the New York Observer, NBC is considering office space at both LEED Gold 7 World Trade Center and SJP Properties’ LEED Gold hopeful 11 Times Square. The network most recently visited 7 WTC on June 2, where the top ten floors of the tower remain available at asking rents around $75 per square foot. “NBC has been back to 7 World Trade Center a number of times, with executives and different division heads poring over the building,” a source told the Observer. Nevertheless, another source claims that NBC is now focusing on 11 Times Square, which is still seeking an anchor tenant, as well as other spaces along 8th Avenue. The network hopes to move its business operations into whatever new space it chooses sometime during 2009 .
Popularity: 24% [?]
12Jun2008 | Stephen Del Percio | 1 comment | Continued
ML: Green Construction Booming in Manhattan (Photos)
Last Thursday, I spent an afternoon out of the office and took some construction progress photos of a number of the LEED projects that we’ve presented here at gbNYC. I started out on 42nd Street at SJP Properties’ LEED Gold hopeful 11 Times Square before heading downtown to Battery Park City’s Riverhouse (seeking LEED Platinum) and Goldman Sachs Tower (Gold). We haven’t written about it yet (we will) but I finished up with some shots of Related’s Robert A.M. Stern-designed Harrison condominium development on 76th and Amsterdam which is aiming for Silver. As you’ll see, steel at 11 Times Square is well out of the ground and lagging just a few floors behind the tower’s concrete core.
Popularity: 28% [?]
2Jun2008 | Stephen Del Percio | 0 comments | Continued
20 Times Square: Green Tower at Bus Terminal Close to Securing Anchor Tenant
20 Times Square, the planned 42-story LEED (for Core and Shell) Gold tower that Vornado and Ruben will co-develop above the north wing of the Port Authority Bus Terminal on 8th Avenue, is close to securing an anchor tenant. Law firm Paul Weiss is in preliminary negotiations with Vornado for 500,000 square feet of space across the building’s middle floors- over a third of the building’s 1.3 million square feet- at what’s rumored to be $95 per square foot. The potential deal is obviously significant in terms of moving the speculative 20 Times Square project forward, but also highlights SJP Properties’ inability to similarly secure an anchor tenant for its speculative 11 Times Square project across the street.
Popularity: 9% [?]
8May2008 | Stephen Del Percio | 0 comments | Continued
British Telecom Inks Two-Floor Sublease at Times Tower
According to Crain’s, British Telecommunications has inked a 15-year lease for 63,000 square feet of space at the New York Times Tower on Eighth Avenue at $95 per square foot. British Telecom is subleasing space on the 45th and 46th floors from investment firm ClearBridge Advisors, though the latter never occupied the space that British Telecom will take over. ClearBridge will remain in its existing space on the 47th through 50th floors. The deal follows a number of reports over the past month that financial services firms across the city have been shedding space that’s now unnecessary given the market downturn.
Popularity: 8% [?]
23Apr2008 | Stephen Del Percio | 0 comments | Continued
Steel on the Rise at SJP Properties’ 11 Times Square
A few weeks ago, Real Estate Weekly reported that SJP Properties was close to securing the French bank Natixis as an anchor tenant for its 40-story, 1.1 million-square-foot speculative 11 Times Square project at the corner of 42nd Street and 8th Avenue, which will seek a LEED Gold rating from USGBC. Yesterday, the developer announced (with some degree of fanfare) that it has started erection of the $1.1 billion building’s 7,000 tons of structural steel. In a prepared statement, SJP CFO David Welch said that “[t]he arrival and implementation of the steel phase will allow interior core and floor framing for the structure to take shape. We remain ahead of schedule and will deliver the building for tenant occupancy by late 2009.” Designed by FXFOWLE, the tower will feature a concrete core enclosing its elevator banks and utility risers, which allows tenant floors to remain column-free and insulates them from noise emanating from the concrete-enclosed mechanical rooms.
Popularity: 14% [?]
10Apr2008 | Stephen Del Percio | 0 comments | Continued
French Bank May Say Oui to Gold at 11 Times Square
In early February, we noted an interview that SJP Properties’ Stephen Pozycki gave to Real Estate Weekly about progress at LEED Gold hopeful 11 Times Square, which is currently under construction at the corner of 42nd Street and 8th Avenue. “Tenants will come,” Pozycki said at the time, while also expressing his expectation that the tower would be half-leased come summer. Despite the softening market, it appears that Mr. Pozycki’s prediction may prove prescient, as Real Estate Weekly reported this week that the French bank Natixis is considering up to 250,000 square feet at 11 Times Square. The bank is apparently conducting test fit-outs but has yet to commit to occupying space at the tower. Natixis currently leases space in a number of Midtown trophy buildings- including 9 West 57th Street and 1350 Avenue of the Americas- that it wants to consolidate into one similarly prestigious space- LEED Gold, even on 8th Avenue, appears to meet that litmus test.
Popularity: 9% [?]
20Mar2008 | Stephen Del Percio | 0 comments | Continued
Forest City Ratner in New Rochelle, Green Power Award for Citi, & 25 Years for SJP
gbNYC selects green news items of note that were reported across the New York City area during the week of February 17, 2008, including a green mixed-use development in New Rochelle proposed by Forest City Ratner, a green power award from EPA for Citi, and 25 years of development for SJP Properties in the New York City metropolitan area. As always, descriptions and links are after the jump.
Popularity: 7% [?]
24Feb2008 | Stephen Del Percio | 0 comments | Continued
SJP Properties’ LEED Silver 11 Times Square Moving Forward Through Tighter Market
In an article that appears in this week’s edition of Real Estate Weekly (but is not available online), Stephen Pozycki, head of New Jersey-based SJP Properties, discusses the state of the New York City commercial real estate market in light of the recent U.S. economic woes. SJP, as you may recall, is building the speculative, LEED Silver 11 Times Square at the corner of 42nd Street and 8th Avenue (just across the street from the New York Times Tower). Last fall, we discussed the project in the context of the subprime lending meltdown and what it might mean for green building generally. Pozycki told Real Estate Weekly that he expects the tower to be half-filled with tenants by summer and that “[t]here’s just not many of these new green buildings that are being built in the city.” He noted the lack of available space in new green towers from the Times, Hearst, Bank of America, and also pointed to Boston Properties’ plans for a LEED Gold building, targeted specifically for law firms, at West 55th Street.
Popularity: 21% [?]
6Feb2008 | Stephen Del Percio | 3 comments | Continued
Color it Green: The 25 Largest Blocks of Available Manhattan Office Space
A few green addresses of note jump off the most recent CoStar Group list of the largest contiguous blocks of office space currently available in Manhattan (as of December 31, 2007). The list appears in the Real Estate Report in this week’s edition of Crain’s. Topping the list is SJP Properties’ LEED Silver hopeful 11 […]
Popularity: 24% [?]
15Jan2008 | Stephen Del Percio | 1 comment | Continued
SJP Properties’ Waterfront Corporate Center III: Hoboken, NJ
New Jersey-based developer SJP Properties, whose first commercial foray into the Manhattan real estate market at LEED Silver hopeful 11 Times Square is two months ahead of schedule, is also developing the Waterfront Corporate Center III (”WCC III”) across the Hudson River in Hoboken (middle building in the image to the left). Also a speculative […]
Popularity: 19% [?]
6Dec2007 | Stephen Del Percio | 0 comments | Continued-
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