Thursday July 18, 2013
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| Nelson Levine Relocating to 17 State Street |
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BY GUS DELAPORTE
Nelson Levine de Luca & Hamilton has signed a long-term, 29,386-square-foot lease for the entire 29th and 30th floors at RFR Realty’s 17 State Street, The Commercial Observer has learned. The firm will be relocating from the 32nd floor at One Battery Park Plaza.
“17 State Street is one of the premier office addresses in the Financial District,” said Aby Rosen, co-founder and principal of RFR, in a prepared statement. “We are thrilled to welcome Nelson Levine de Luca & Hamilton, which will join other top names in the financial services, legal, media and technology arenas at this stellar property.”
To read the full story, click here.
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| Blackhouse Plans Three NYC Condo Buildings |
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BY AL BARBARINO
New York-based real estate group Blackhouse Development is bringing three luxury residential real estate projects to Manhattan.
The firm released details this week regarding the names of the projects and the respective architecture firms chosen to design, including Casa Bella Artes, with architect Workshop/apd; Soori High Line, designed by Singaporean firm SCDA; and Maison Dragão, in the Lower East Side, designed by Brazil-based Isay Weinfeld.
To read the full story, click here.
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| Rudin Family Makes Connection with Telx |
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BY BILLY GRAY
The data center and interconnection services provider Telx has formed a mutually beneficial partnership with the Rudin family at Rudin Management’s 32 Avenue of the Americas.
The tenant signed for 20-year, 45,000-square-foot lease for the Tribeca building’s entire 10th floor. The lease will also lead to Telx exclusively managing and operating 28,000 square feet in the building’s HUB, a “meet me” room that Executive Vice President and Chief Operating Officer John Gilbert described as a “stock exchange for machines and services.”
Robert Steinman, a vice president at Rudin, represented the landlord in-house. Amanda Bokman and Robert Meyers of CBRE represented the tenant, which already operates two New York data centers.
To read the full story, click here.
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| Leave the Stone Age, Part I: Pricing the Cost of Construction in the 21st Century |
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BY BARRY LEPATNER
The irony of today’s $1 trillion design and construction industry is that, while many new projects are glass and steel, we are operating, essentially, in the Stone Age.
Technology is a prime example. Most industries have embraced technology as a means to becoming more efficient and transparent.
Meanwhile, the design/construction industry has no centralized marketplace—a searchable, industry-wide database—for the purpose of purchasing the thousands of products specified for each building project.
To read the full story, click here.
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| A Secular Shift in Midtown South |
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BY KEN MCCARTHY
No matter how you look at it, the Midtown South market is hot. The vacancy rate in Midtown South is currently 7.2 percent, making it by far the tightest major market in the nation. The only market close to Midtown South in vacancy is San Francisco, where the vacancy rate is 8.6 percent.
The technology and creative industries (including fashion, advertising and media) that inhabit this market are among the fastest-growing sectors of the national and local economy. It is the ultimate live-work-play environment where young talented professionals want to be, and the companies looking to tap in to this labor pool are strongly motivated to locate themselves in Midtown South.
To read the full story, click here.
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