The city Department of Buildings and the Department of Investigation announced the findings today from their investigation into the deadly 2011 elevator accident at 285 Madison Avenue that killed Young & Rubicam executive Suzanne Hart in rather horrific fashion, and both agencies confirmed that maintenance workers failed to repair the elevator up to city safety standards days prior to the incident.
Jazz at Lincoln Center is moving its offices to 3 Columbus Circle where it has just signed a deal for 30,653 square feet, The Commercial Observer has learned.
Gregg Weisser knows how to handle a hot house. The newly anointed executive managing director of the Moinian Group, and volunteer fireman with the Kismet Fire Department in Fire Island, New York, is no stranger to putting out fires, be it a burning beach house or as a director of leasing across some of the city’s most notable addresses. As the real estate director of JPMorgan Chase, where he had worked for over 20 years, Mr. Weisser closed a million and a half feet of empty space in 1 New York Plaza.
It looks like 3 Columbus Circle will not be a bust after all. SL Green has officially announced a deal for august ad agency Y&R to lease 340,000 square feet in the sickly cerulean tower, according to the Post‘s Steve Cuozzo. The ad men are renting floors 3 through 10 and 18 and 19, the latter of which will afford lovely views of Central Park.
Last week, The Observer got a tour of 3 Columbus Circle from the developer who revived the 1928 monolith, Joe Moinian. In this week’s paper, we take a closer look at 3 Columbus and its future prospects as a going concern, but for those of you who only care about real estate porn, here it is.
The sun was glistening off the blue glass of 3 Columbus Circle last Thursday. A clutch of nattily dressed real estate executives standing on the 19th floor terrace had to squint against the strong light, reflecting off the high-tech carapace of the building formerly known as 1775 Broadway. Once the headquarters of Newsweek, and before that General Motors, the building began life in 1928 as a sturdy Art Deco brick box towering over Columbus Circle. One of the biggest buildings in the city at the time, it was a show of emerging industrial might in the heart of Manhattan.
But that was before GM moved to the other end of 59th Street, erecting its glass and marble monolith. That was before the arrival of the Trump International, the Time Warner Center and the Apple store on Fifth Avenue. Glass has become big business across the city, where brick and steel still sometimes rules—the Empire State Building is still our most recognizable landmark. Glass was what Joe Moinian, the Iranian-Jewish developer, former cook and now master of some five million prime square feet, decided to go with, then. It was the boom-boom new millennium: Why tear down a perfectly serviceable building when you could simply sheath it in a slick new suit, ask those $100-per-square-foot rents (the standard for a top-of-the-line tower) and cash the checks?
Employment numbers might still be shakey and shopping malls are reportedly on the permanent wane, but there’s more to celebrate in Vegas this year than Celine Dion’s triumphant return tour. “We’re a nation of shopaholics,” said Prudential Douglas Elliman’s Faith Hope Consolo. Indeed, this year’s International Council of Shopping Centers is poised to be the Read More
On Nov. 15, Stephen Ross, chairman of the Related Companies and owner of the Miami Dolphins, strode into Room 238 of the New York State Supreme Court, four minutes after litigation over 3 Columbus Circle was slated to begin. A dozen lawyers waited around a square table in the center of the room, rattling gold Read More
Columbus Circle has been the victim of bad architecture for decades, since Robert Moses built the Coliseum on its western flank in the 1950s, a building derided at the time as “utterly pedestrian,” among other epithets. It has since been replaced by the far nicer though not always beloved Time Warner Center. Just Read More
Joe Moinian, the blockbuster developer who bought up millions of square feet for billions of dollars during the boom, is set for a court date later today with rival developer Steve Ross, head of the Related Companies, over Moinian’s redevelopment of 1775 Broadway.
Moinian began redeveloping the art deco office building two years ago, rebranding Read More