Business Insider, master of the slideshow, has signed a 20,646-square-foot sublease of the entire eighth floor at 150 Fifth Avenue, The Commercial Observer has learned.
The subtenant will pay rent in the low-$50s per square foot in a deal expiring in early 2018, according to data from CompStak.
With the choice of four of the world’s greatest architects, how could David Levinson ever settle on just one to build a new tower at 425 Park Avenue?
“That’s my next job, to find three more sites so I can build all these buildings,” Mr. Levinson joked, seated at a conference table inside his sleek white offices on 57th Street on Monday. He was surrounded by renderings and models by Zaha Hadid, Richard Rogers, Rem Koolhaas and the winning architect Norman Foster.
“For us, it was really a blend of what’s the right concept for Park Avenue, a place that has not had a new building for almost 50 years, an avenue that is quite possibly the most important commercial boulevard in New York City, quite possibly the United State, and what is the place of a new build down the street from Seagrams and Lever House, two of the greatest buildings ever built,” Mr. Levinson explained. “We had to determine for that setting what’s the right firm. So really, it’s a blend of the concept and the firm we can work with.”
Who needs the Midtown East Rezoning to transform the area when you have intrepid developers and unlikely circumstances? O.K., so both of those are super-rare, so bring on the rezoning,
In the meantime, though, we can occupy ourselves with David Levinson’s daring plan to tear down 75 percent of 425 Park Avenue and replace it with a dynamic new tower by Lord Norman Foster. Foster + Partners have emerged victorious from a competition Mr. Levinson’s L&L Holdings held over the past few months between some of the world’s most high-profile designers. The British Pritzker Prize winner beat out fellow starchitects Rem Koolhaas, Zaha Hadid and Richard Rogers (no Americans, unfortunately).