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  #4501  
Old Posted Feb 11, 2017, 4:09 PM
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chris08876 chris08876 is online now
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Looks like Silverstein is trying to get enough smaller tenants to make this work as opposed to one massive anchor tenant. Hopefully once a certain % is leased or reserved, this will rise.

Screenshot from my pc

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  #4502  
Old Posted Feb 11, 2017, 7:17 PM
meh_cd meh_cd is offline
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Nice C&C icons. AK-47s for everyone!
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  #4503  
Old Posted Feb 11, 2017, 9:02 PM
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Originally Posted by meh_cd View Post
Nice C&C icons. AK-47s for everyone!
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  #4504  
Old Posted Feb 18, 2017, 7:12 PM
BStyles BStyles is offline
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Honestly the space that appears to be leased just looks like mechanical floors.

Through the edge of the webcam, they have already started the final bit of foundation work adjacent to Church Street. Who knows, someone may intervene at the last minute and secure him that anchor tenant.
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  #4505  
Old Posted Feb 23, 2017, 12:21 AM
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IBM searching for massive new NYC office: Tech company on the search for as much as 350K sf

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IBM supercomputer Watson is helping people file their taxes, upgrading the city’s 311 system and helping to turn Internet of Things devices into points of sale. But all that high tech still needs some brick-and-mortar office space.

IBM, which is headquartered about 35 miles north of Manhattan in Armonk, NY, and has offices in the city on Madison Avenue and in the East Village, is looking for as much as 350,000 square feet of additional space in the city as it expands Watson, sources told The Real Deal.


Representatives for IBM couldn’t be reached for comment.

The technology company recently announced partnerships with a number of commercial clients such as H&R Block and Visa as it expands with Watson, the artificial intelligence platform that won at Jeopardy! back in 2011.

IBM has had offices in the city going back to the early half of the 20th Century, when it set up shop at 590 Madison Avenue. In the late 1970s it tore down the old building at that site and built a 43-story, 1 million-square-foot modern corporate headquarters known as the IBM Building. But the company sold the property to a partnership between Edward J. Minskoff and the investment group Odyssey Partners in 1994, a time when IBM’s fortunes were in decline and it was shedding space in the city.

But along came Watson, and IBM began growing its footprint. In 2014, it inked a deal with Minskoff to sign on as the 120,000-square-foot anchor tenant at his 51 Astor Place property, which is known as the IBM Watson Building. The tech firm took another 25,000 square feet in the building in 2015, bringing its total footprint there to just shy of 144,000 square feet.

Sources said IBM’s now looking for somewhere between 250,000 and 350,000 square feet, an assignment that will surely limit its options. Blocks of that size are nearly nonexistent in Midtown South. Last month, the music-streaming app Spotify, which is currently based in Chelsea, signed a lease for 378,000 square feet at Silverstein Properties’ 4 World Trade Center.
=======================
https://therealdeal.com/2017/02/22/e...ew-nyc-office/
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  #4506  
Old Posted Feb 24, 2017, 1:37 PM
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^ That last paragraph about no large blocks of office space available in Midtown South and how Spotify needed to go the WTC to expand proved NY Yimby was right.

NY Yimby had talked awhile back about the problem with the city not accommodating the tech industry in the parts of the city where they want to be: http://newyorkyimby.com/2014/12/how-...lt-legacy.html

Very interesting read and now in hindsight, very astute on the part of NY Yimby.
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  #4507  
Old Posted Feb 24, 2017, 4:55 PM
jsbrook jsbrook is offline
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Originally Posted by antinimby View Post
^ That last paragraph about no large blocks of office space available in Midtown South and how Spotify needed to go the WTC to expand proved NY Yimby was right.

NY Yimby had talked awhile back about the problem with the city not accommodating the tech industry in the parts of the city where they want to be: http://newyorkyimby.com/2014/12/how-...lt-legacy.html

Very interesting read and now in hindsight, very astute on the part of NY Yimby.
Companies may not like it, but I'm not sure the lack of accommodation is a 'problem.' It's actually smart. Otherwise, the WTC complex might never lease up...and 2 WTC never get off the ground...
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  #4508  
Old Posted Feb 25, 2017, 6:58 AM
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Companies may not like it, but I'm not sure the lack of accommodation is a 'problem.' It's actually smart. Otherwise, the WTC complex might never lease up...and 2 WTC never get off the ground...
Did you read the Yimby article? It has nothing to do with being smart about the WTC complex. The zoning in the parts of Chelsea were tech firms like to be, were never zoned for large size developments.
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  #4509  
Old Posted Feb 25, 2017, 1:03 PM
yankeesfan1000 yankeesfan1000 is offline
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Lack of accommodation is a huge problem, and thanks for the link to the Yimby article.

I have to imagine a big factor in tech companies getting squeezed in areas like Midtown South, Chelsea, Meatpacking etc, is developers converting office space into residential, ala 10 Madison Square West. I'd be interested to know how many s/f of office space has been converted into residential, vs how many s/f of new office space has been built in those neighborhoods in the past ten years.
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  #4510  
Old Posted Mar 10, 2017, 9:26 PM
NOPA NOPA is offline
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Quote:
Originally Posted by yankeesfan1000 View Post
Lack of accommodation is a huge problem, and thanks for the link to the Yimby article.

I have to imagine a big factor in tech companies getting squeezed in areas like Midtown South, Chelsea, Meatpacking etc, is developers converting office space into residential, ala 10 Madison Square West. I'd be interested to know how many s/f of office space has been converted into residential, vs how many s/f of new office space has been built in those neighborhoods in the past ten years.
I'd like to know the same for FiDi, as well as total s/f of office space each year. It seems like every pre-war building is getting converted into residential, but I imagine its more than off set by new commercial.
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