Quote:
Originally Posted by scalziand
I'm a bit confused as to which building is which on this block. I'd like to know if this diagram is correct.
Curb Exchange
22 Thames/123 Greenwich 10 stories
Amex- 78-86 Trinity 14 story annex on the north end which the nypost article referred to as the Curb Exchange.
To top off the confusion, there's reference to Liberty street addresses. Liberty street runs 2 blocks north of the site. I'm assuming this is an error. |
The green building on the southwest corner of Trinity and Thames and the building on the northwest corner of Trinity and Thames houses two high schools. They will both be developed in time, but the NY Dep't of Ed. has leases that run through around 2022. See below:
http://www.observer.com/node/36909
SL Green Dreams Grand Central With $76 Million Madison Ave. Buy
By John Koblin
March 11, 2007 | 8:00 p.m
THE MEGA-DEVELOPER SL GREEN CAN NOW BUILD a 900,000-square-foot tower at the foot of Grand Central Terminal.
This comes after SL Green purchased two small buildings, one at 331 Madison Avenue and the other at 48 East 43rd Street, for $76 million. SL Green owns a neighboring building on the block, at 317 Madison Avenue.
The Cushman & Wakefield investment-sales dream team, Richard Baxter, Scott Latham, Ron Cohen and Jon Caplan, brokered the deal.
Isaac Zion, a managing director at SL Green, also worked on the deal. He said SL Green will push rents and attract better tenants for the new buildings.
Mr. Zion said SL Green is seriously considering the possibility of building one big tower at one of the most lucrative addresses in the city.
“Given its location,” he told The Observer, “I think it plays out well as an office building to take in a different direction.”
If SL Green decides to build the tower, it would be between 42nd and 43rd streets, on Madison Avenue and a part of Vanderbilt Avenue.
As the properties now stand, 331 Madison Avenue is a 14-story, 92,000-square-foot building, and 48 East 43rd Street is a seven-story, 22,850-square-foot loft building.
The two buildings were sold by U.S. Trust on behalf of a group of investors, a source close to the deal said.
THE DEVELOPER JOSEPH CHETRIT HAS PURCHASED for $64 million a pair of New York University buildings that are within a stone’s throw of the World Trade Center redevelopment site.
The buildings, at 90 and 100 Trinity Place, are the former home of N.Y.U.’s Stern School of Business and the current home of two city high schools. The sale was recorded in city records.
The deal looks like a long-term investment for Mr. Chetrit. When N.Y.U. put the buildings on the block, it did so with the condition that the new owner extend and honor the lease of the two city schools, a spokeswoman for the university said.
The two schools, the High School of Economics and Finance and the High School for Leadership and Public Service, signed a 15-year lease in January, a spokeswoman for the city’s Department of Education said.
Mr. Chetrit would not comment for this story, but he’s likely banking on the potential value of an asset that will soon be among a sea of new glass buildings dotting the lower Manhattan skyline. Even if he doesn’t have leasing control until 2022, he’s taking the gamble.
The buy is also a sudden reversal for Mr. Chetrit, who has been recently selling and marketing part of his portfolio. As The Observer earlier reported, he sold the Daily News building at 450 West 33rd Street to Broadway Partners, and has assigned Eastdil’s Doug Harmon to market the Toy Building on Fifth Avenue.