NEW YORK CITY-Cushman & Wakefield closed approximately 20,000 sf of new leases at 142 W. 57th St., also known as Metropolitan Tower. Camden NY Venture LLC and Hutchin Hill Capital LP are two of the latest tenants to commit to the class A property, where an extensive lobby renovation is expected to be completed next month.
The Cushman & Wakefield team of Tara Stacom, Mitchell Arkin, JoAnn Stock, David E. Green, Scott Vinett and Andrew Ackerman are the exclusive leasing agents for property. The team represented the building's owner, locally based L & L Holding Co. LLC, in lease negotiations. Although taking rents and aggregate lease value including terms were not disclosed, Cushman and Wakefield tells GlobeSt.com that asking rents were $80 per sf.
“We've have great momentum in leasing our pre-built units,” says vice chairman Stacom. “This space is ideal for tenants who have immediate needs, looking for the highest level of finish.”
David Berkey, EVP of L & L Holding notes that “as our latest tenants can attest, the new high-end pre-builts have far surpassed expectations, and have raised the bar for all pre-builts programs going forward. With our extensive lobby renovation near completion, we have succeeded in creating a luxury product for discerning high-end tenants in an exciting and vibrant location.”
The Cushman & Wakefield leasing team will continue to market the remaining high-end pre-built units in the building, ranging in size from 2,000 sf to 10,000 sf. Designed by Rogers Marvel Architects, the new lobby interior of Metropolitan Tower will mirror the reflective, black-glass exterior of the building. A scrolling media and information strip along the east wall will keep tenants and visitors up to date with the latest news. The information and concierge desk will feature a unique architectural element composed of white-glass cubes in the center of the lobby, creating a sleek contrast against the new granite floors and high gloss black metal walls.
Metropolitan Tower is located on 56th Street and 57th streets between Avenue of the Americas and Seventh Avenue. Additional features of the available office space include access to the Tower's private dining facility, an 80-car parking garage located inside the building and immediate access to the E, F, R, N, W and Q subway lines.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
