The Queens District Attorney’s Office
is considering a large lease in Forest Hills, Queens in offices that used to be occupied by the major airline JetBlue, several sources told The Commercial Observer
The office of the Queen’s DA, Richard Brown, is in talks to lease approximately 180,000 square feet at Forest Hills Tower, space that was formerly leased by JetBlue, which decided last year to relocate from the 500,000-square-foot building to Long Island City.
Lease of the Week
Endurance Reinsurance needed more office space. But growing wasn’t going to be as easy as just tacking a few new floors onto its existing footprint.
The firm had split its operations between two closely located buildings on Third Avenue, 750 and 767 Third Avenue. A quick perusal of the former revealed that only a tantalizing scrap on the building’s 10th floor was available. Alone, it wasn’t going to cut it. Endurance, a roughly 60,000-square-foot tenant at the time, was looking to grow by about 50 percent or more.
Silverstein Properties has appointed a leasing team from the real estate services firm Jones Lang LaSalle to handle deals at 1177 Avenue of the Americas.
A lot appears to be riding on the assignment.
Since joining Jones Lang LaSalle in 2002 as president of New York operations, Peter Riguardi has spearheaded a rapid expansion drive that has culminated in the hiring of no fewer than 100 new brokers over the past nine years. Mr. Riguardi, 50, spoke to The Commercial Observer last week about that ambitious hiring phase, the firm’s leasing assignment at 85 Broad Street and, for the first time, his plans to move the firm to 330 Madison Avenue.
“I’m more bullish today than I was in 2007,” said Cushman & Wakefield’s Tara Stacom of 1 World Trade and the outlook for the 1,776-foot tower that will offer 3.1 million square feet of Class A office space. “I did not think one of the first tenants would be a million-plus feet.”
Signing the lease with Condé Nast in May of this year was, for lack of a less hackneyed term, a game-changer for downtown Manhattan, especially as the area emerges not only from the Great Recession but from the malaise that characterized so much of the area since 9/11.
The Commercial Observer: What’s happening right now at Jones Lang LaSalle?
Mr. Riguardi: We’re on a journey as an organization, and we’re on a journey as a group here in New York; and I think they’ve been traveling at pretty parallel courses. For years, people thought Jones Lang LaSalle was a great adviser and provided Read More
Ever since Bank of America bought Merrill Lynch in the woeful days of September 2008, the New York real estate world has remained riveted by speculation: Would it entirely abandon the Merrill space at Brookfield’s World Financial Center, consolidating all of its offices at the Bank of America Tower at One Bryant Park, thus leaving Read More
Location: You work in the Citigroup Center in midtown. Does midtown seem emptier to you lately?
Mr. Riguardi: You know what, I would have to say no. I’m so energized by New York City, so maybe I’m a bad person to ask that question to.
I understand you’re an optimist, but have you Read More
The light-eyed, round-headed Scott Panzer flew the coop this month, migrating from brokerage Newmark Knight Frank to what he describes as the fairer environs of rival firm Jones Lang LaSalle.
Mr. Panzer has taken a 12-member (possibly 13-member) team along for the ride, one that includes 20-year commercial veterans Deborah van der Heyden and Robert Read More
The story was reported by Max Abelson, Eliot Brown and Dana Rubinstein; and written by Ms. Rubinstein.
New York’s real estate community doesn’t just love Mayor Bloomberg. It lurves him. And it’s greeting the news of his third-term bid accordingly.
"Love him," said developer and landlord Alex Sapir. "Let’s keep him forever." Read More