According to Real Estate Weekly (via the Wall Street Journal), Boston Properties’ deal with law firm Proskauer Rose for 500,000 square feet of its LEED Gold hopeful 250 West 55th Street project may be on the rocks. (Just as a side note, I can see the site from my office and excavation and foundation work is moving forward as we speak at full steam). The speculative, SOM-designed green commercial office project had no trouble lining up tenants for close to 80 percent of its 1 million square feet, even while SJP Properties’ similarly speculative and LEED Gold 11 Times Square just a few blocks south was (and continues to be) on the hunt for its first tenant of any size. Should Proskauer pull out of the deal, it would be the credit crunch’s biggest blow to a green building in New York City to date.
November 26th, 2008 | Stephen Del Percio | 0 comments | ContinuedAll Posts Tagged With: "Class A office rents"
Gore Finalizes 5500 s/f Lease at Bank of America Tower
The New York Observer reported earlier today that Al Gore’s Generation Investment Management firm has finalized its lease for 5500 square feet on the 48th floor of the Durst Organization’s Bank of America Tower, which expects to receive the first-ever LEED Platinum rating for a commercial high-rise from USGBC. Asking rents at the Midtown tower, which was designed by Cook + Fox, had been hovering around $185/square foot; it’s unclear how much Gore’s firm agreed to pay for the space, but as of last July, this was the asking price for the only two remaining floors in the building.
May 27th, 2008 | Stephen Del Percio | 1 comment | Continued