Although Apple recently backed off leasing office space at Macklowe Properties’ LEED Gold hopeful 510 Madison Avenue, the developer does have some fresh good news to share in advance of today’s planned topping off of the 350,000-square-foot, 30-story tower. Famed luxury watch purveryor Tourneau has inked a 3300-square-foot lease for retail space at the building’s East 53rd Street corner. Macklowe Chairman and CEO Billy Macklowe told the New York Post that the property should be ready for occupancy by the end of the year. Although Macklowe has only inked one office tenant to date (investment outfit Jay Goldman & Co.), Mr. Macklowe is confident that the tower will perform as planned. “I think all markets cycle,” he told the Post. “We’re still in the Plaza District, the premier business district in Manhattan.” The Post reports that the project’s shimmering glass curtain wall- already rising along Madison Avenue- is debuting to rave reviews from neighboring tenants. Asking rents for the retail space secured by Torneau were $600 per square foot.
July 30th, 2008 | Stephen Del Percio | 0 comments | ContinuedAll Posts Tagged With: "Plaza District"
LCOR’s 545 Madison Avenue Signs Alfred Dunhill to 10-Year Lease
LCOR’s LEED Gold (for Core and Shell) hopeful 545 Madison Avenue is back in the news after the developer recently inked British retailer Alfred Dunhill to a 10-year, 7000-square-foot lease for two floors of retail space. The upscale men’s clothier is currently located at 711 Fifth Avenue but will receive 175 feet of street window frontage along Madison Avenue and East 55th Street. CB Richard Ellis represented LCOR and Alfred Dunhill in the lease negotiations, which resulted in a deal at $600 per square foot. The store should open up this summer; LCOR is aiming the 17-story project’s 140,000 square feet of office space at seventeen (or fewer) boutique legal or financial services firms.
June 17th, 2008 | Stephen Del Percio | 0 comments | Continued