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May 31, 2006
Law firm signs first lease for NYT building
Crain's NY Business
By Julie Satow
Some news about the building that Atlantic Yards developer Forest City Ratner is building in midtown and co-owns with the NY Times Corp:
The law firm Seyfarth Shaw has signed the first lease at the New York Times Co. building under construction at 620 Eighth Ave., at 41st street.
The 17-year lease is for 100,000 square feet on floors 31 through 33. The asking rent in the building is $80 to $100 a square foot.
CB Richard Ellis began marketing the building, designed by Pritzker-Prize winning architect Renzo Piano, last year. It is the first new Class A office tower to be constructed on Eighth Ave. in several years.
"We have a number of other leases out, but Seyfarth Shaw is the first to cross the finish line," said Forest City Ratner Cos. President Bruce Ratner, in a statement.
Forest City Ratner, which owns floors 29 through 52 with its financial partner ING Real Estate, expects it will be open for occupancy by the second quarter of 2007. The New York Times owns floors 2 though 28.
Another rewrite of the press release from the local real estate trade publication, GlobeSt.com.
Posted by lumi at May 31, 2006 9:57 PM