“For us, we had to do something different,” said Donald Trump Jr. last week, his voice rising with excitement.
Freshly tanned from a recent visit to Mexico, where he was overseeing a new project, the slicked-back scion grew steadily more enthusiastic as he discussed 40 Wall Street, an office tower that, with its rising and falling tenant roster, has contributed to the Trump Organization executive vice president’s growing reputation as a competent steward of the family name, a reliable fixer and successful dealmaker in his own right.
Lease of the Week
It’s not uncommon to hear Manhattan’s real estate market characterized as sophisticated or complex.
Not every day, however, does a requirement as straightforward as Dentsu McGarryBowen’s uncork such an elaborate and interconnected series of transactions as it did at the Starrett-Lehigh Building.
A longtime tenant in the 2.3-million-square-foot building and one of the property’s largest users, the advertising firm needed to expand. But there was a small problem: Despite its size, the building—an artsy, far West Side location popular among creative tenants—had virtually no available space.
In June, the rapidly growing product development social network Quirky inked a deal for 27,500 square feet at 601 West 27th Street, a former ministorage facility currently in the process of converting into offices for a number of other tech companies. Otherwise known as the Terminal Warehouse Building, the seven-story, 1.2 million-square-foot property near 11th Avenue was built in the late 19th Century, yet only just began leasing space to office tenants several years ago. As such, Quirky, which quadruples in size from its current space at 628 Broadway, took advantage of raw space, high ceilings and start-up friendly, loft-like floor plates. After the jump, Ben Kaufman, the company’s 25-year-old founder and chief executive and Greg Taubin, a senior managing director at the real estate firm Studley who inked the deal, reviewed the floor plan and discussed what impressed them the most.
Media behemoth Viacom has a lease out for as much as 250,000 square feet at 345 Hudson Street, in the long-struggling commercial area of Soho’s Hudson Square.
Viacom, which counts MTV and Paramount Pictures among its many assets, is closing in on between 200,000 and 250,000 square feet, said Jason Pizer, the director of Read More