Posted Feb 10, 2011, 9:39 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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Maybe Bloomberg could have convinced his old company to head Downtown, their own tower isn't large enough to contain them...
http://www.nytimes.com/2011/02/10/ny...l?ref=nyregion
Growing Bloomberg L.P. To Rent Half of a Tower
By CHARLES V. BAGLI
February 9, 2011
Quote:
In another sign of Bloomberg L.P.’s growth, the company announced on Wednesday that it had signed a lease for 16 floors in the former Philip Morris building, across from Grand Central Terminal.
Bloomberg, a financial information and technology company founded by Mayor Michael R. Bloomberg, said that it needed the additional space to accommodate its swelling work force. The number of employees in New York City alone has grown by nearly 40 percent, to 6,500, since December 2008.
“We continue to hire in New York and we expect that to continue as we expand our businesses and move into new markets worldwide,” Daniel L. Doctoroff, the company’s president, said in a statement.
The company recently announced that it would build a new European headquarters in London with more than 500,000 square feet of office space.
Several years ago, Bloomberg built a headquarters in New York, at Lexington Avenue near 59th Street, where it has almost 900,000 square feet.
It signed a lease Wednesday for an additional 400,000 square feet of space in the old Philip Morris building, at the southwest corner of Park Avenue and 42nd Street — more than half of the 26-story tower, which has been largely vacant for several years.
The Altria Group, which owns Philip Morris, sold the building to Global Holdings in 2008 for $525 million, after it moved its headquarters to Richmond, Va.
Global Holdings has struggled to find tenants for the building at the rents it wanted. The company had recently signed a nonbinding letter of intent with Wells Fargo, which was negotiating a lease for a large block of space, according to three real estate executives, but Bloomberg got the space.
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Doctoroff was mayor Bloomberg's deputy mayor for economic development and rebuilding. That 400,000 sq ft lease is exactly what Silverstein needs here. Oh well, next!
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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