The Fisk Building at 250 W. 57th St. is traditionally known as host to small arts related companies, an extension of sorts of Carnegie Hall just to the east and Lincoln Center to the northwest. Announcements such as that last year of Central Park Media expanding its space to 10,000 sf in a 10-year lease demonstrate the building's recent evolution. CPM has become the largest tenant in the building, having originally moved into 2,000 sf in 1993. The company itself is an extension of the arts community with a contemporary twist, distributing materials such as Japanese animation, software and other Generation Digital items.
Generally office in the Fisk Building are small, but now managment Helmsley-Spear is aggressively marketing the second largest space in the building, 7,150 sf on the third floor. Last night's party was designed to spur brokers to bring potential tenants into the space. The building's general manager, George Fabian, and Peter Malkin, chairman of Wien & Malkin that oversees the partnerships that own the property, both dedicated their official speaking time and even conversation during the party to highlighting the changes in Columbus Circle.
Actually, the changes in the Fisk Building lend themselves to the changes in Columbus Circle and the city itself. Now promoting this bigger, better space, the vision of Times Square's bigger and better face is called to mind. Of course the Fisk, being more uptown and upscale with its proximity to the heart of the world's art scene and Central Park, has taken bigger and better in its own Columbus Circle way. Office space offerings are getting bigger and are not necessarily aimed directly at arts related businesses, but those companies who would like the idea of being near them. The spaces come equipped with fiber optics, cable TV and high-speed Internet access.
AOL Time Warner is planning to move into space in the center of the northern curve of Columbus Circle--a new 21st century style company in a new space, redefining a classic neighborhood. Hearst Publishing's plans to build a tower atop their building in the eastern curve of the Circle were also mentioned. The city's tight market that has led to the gentrification of even the city's grittiest industrial neighborhoods was heralded at this event as bringing new hope, charged energy and potentially bigger name and more lucrative tenants to a building that actually began its history in the city in 1921 as the Fisk Tire Building.
Now, 80 years later, the building is getting a $12 million makeover. The third floor space is now ready for occupancy. Similar space, it was revealed, is also available on the fifth floor. With views of West 57th and Broadway the property is considered quite desirable, but as was made clear last night, it is its proximity to the mixed-review receiving new AOL Time Warner and new Columbus Circle projects on which owners are counting.
Interestingly, in the building once most known for its ties to the arts, no one mentioned the proposed millions to be spent by the city and other investors to renovate Lincoln Center. The mayor had promised in his State of the City Address to invest in a state-of-the-art facility for staging opera and orchestral concerts. He called the current buildings out-dated and promises big changes on the horizon for the cultural center of the city, and the nation.
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