Crains New York Author: Unavailable Article Mentions
Mentioned, Richard EllisMentioned, Leonard Stern Mentioned, Harry Macklowe Mentioned, Theresa Agovino Mentioned, Lehman Brothers
Theresa Agovino - Landlords in the posh Plaza district are getting bolder. A flurry of recent lease signings at very healthy prices, combined with a shortage of high-end built space, have persuaded some property owners in city's most expensive commercial area to jack up rents anywhere from 8% to 16%.Recently, landlords at the Seagram Building at 375 Park Ave., at 667 Madison Ave. and at 712 Fifth Ave. have all been quoting higher prices to brokers. The price hikes come on the heels of a trio of deals inked for more than $100 a square foot at 510 Madison Ave., the tower Boston Properties purchased from troubled developer Harry Macklowe last year. The new ownership gave tenants the confidence to sign deals in the new building, which features ...(read more)
... Theresa Agovino - Landlords in the posh Plaza district are getting bolder. A flurry of recent lease signings at very healthy prices, combined with a shortage of high-end built space, have persuaded some property owners in city's most expensive commer ...
... Inc. However, he cautions, questions remain about the market's future.While the high-end market continues to tighten, he said. The depth of the demand for this space is still uncertain, particularly for larger spaces.In addition, brokers advise that ...
... who owns the building. Mr. Stern said there is a deal for the space, but a lease hasn't been signed. He wouldn't divulge the tenant. Space comes up very rarely in the boutique property, but Mr. Stern noted that a year or two ago, the same space wou ...
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