Muss Development announced today that Con Edison and New York City have signed leases totaling 120,000 square feet in Queens Tower.
The city will take 105,000 square feet on the first six floors of 88-11 165th Street in Jamaica, Queens, according to a press release, and Con Edison signed on for 15,000 square feet on the 10th floor. The leases are for 20 and 10 years, respectively.
According to the release, long-time tenant Verizon Communications vacated the 10-story building in 2005, and Muss Development came in and carried out a significant rehab, gutting the building and installing new utilities and elevators.
The full press release is below.
NYC, CON EDISON SIGNS LEASES FOR 120,000 SQUARE FEET AT MUSS DEVELOPMENT’S QUEENS TOWER IN JAMAICA
-Brisk Leasing Activity Leaves Only 32,000 Square Feet
Available in Renovated Office Building-
NEW YORK, July 31, 2007 – The City of New York signed a 20-year lease for 105,000 square feet of space on floors one through six of Queens Tower, 88-11 165th Street in Jamaica, Queens, announced Muss Development today. In addition, Con Edison has signed a 10-year lease for 15,000 square feet of office space on the 10th floor of the building. Only 32,000 square feet of space is now vacant or not under negotiation.
Muss’ Stan Markowitz negotiated the lease with the City of New York and Manny Fuhrman of Muss represented Queens Tower in the Con Edison lease.
The 185,000 square-foot, 10-story building was long occupied by Verizon Communications. When the telecommunications company vacated the property in 2005, Muss Development recognized the opportunity to invest in upgrades that would attract major credit-worthy tenants. Muss gutted the building, removed asbestos and installed new utilities, HVAC and elevators. The lobby was also completely renovated, as was the three-level parking garage, with 269 spaces, adjacent to the building, which is used by Queens Tower tenants and visitors.
Muss constructed a second lobby on 88th Avenue, for the exclusive use of the city’s employees, clients and visitors. Tenants on floors seven through 10 use the lobby on 165th Street.
“The separate lobby enables the city to have total control of their environment,” said Jason Muss, a Principal at Muss Development. “For them, it is the next best thing to occupying the entire building. It also allows new tenants to have a more private entrance around the corner.”
Muss is currently in negotiations with two tenants for 26,500 square feet of space on the seventh and half of the ninth floor, which would leave 32,000 square feet available. According to Muss, leasing interest has exceeded their expectations.
“Our investment in Queens Tower’s renovation, along with the building’s location in a bustling section of the borough, near major bus and subway lines, the AirTrain to JFK, and highways, providing easy access to both major airports, and all areas of Queens, Manhattan, Nassau County & Brooklyn has attracted and continues to attract interest from quality tenants,” concluded Muss.
About Muss Development
Now celebrating its 100th year of ongoing business excellence in New York City, Muss Development is the largest development company in the Boroughs of New York City, with more than 10 million square feet of commercial, residential, industrial and retail property developed and an additional 5 million square feet of development planned.
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