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GlobeSt.com EXCLUSIVE: More Than 150,000 SF at IBM Building is Available

NEW YORK CITY-Due to a number of lease expirations, 168,763 sf of office space at the IBM Building is on the market. A team from Cushman & Wakefield has been retained to find new tenants for the Plaza District site.

By Barbara Jarvie | Updated on November 20, 2003

NEW YORK CITY-A significant block of office space–168,763 sf–is on the market at the Plaza District’s 590 Madison Ave. Members of Cushman & Wakefield’s Strategic Agency Services group are working in conjunction Edward J. Minskoff Equities Inc., which also manages and oversees leasing for the property, to fill up space in the 43-story, one-million-sf architectural landmark.

The offered space in the granite-clad building built for IBM Corp. in 1982 is a contiguous block on the fifth through the eleventh floors. The individual floors measure 24,109 sf. Brokers say they are looking at per sf prices in the $70s for the spaces.

The assignment has been awarded to C&W’s Donald DiRenzo Sr., Jonathan Serko, Donald DiRenzo Jr. and Barry Zeller, along with Diana Biasotti. According to the brokers representing ownership, it has been more than five years since space was available at the building.

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