25 W. 39th St., the Engineering Societies' Building
NEW YORK CITY—As building's histories evolve with the tenants they house, the Engineering Societies' Building located at 25 W. 39th St. will be welcoming The Wing. Thor Equities signed a 10-year lease with the co-working and community space for women.
The Wing's mission is to further the professional, civic, social and economic advancement of women through community. It provides a space for women to work, interact and network. The organization will lease 12,252 square feet, the entire 11th floor at the historic building. Asking rent was $65 per square foot.
Scheduled to open in fall 2019, The Wing will offer women workspaces, conference rooms, private phone booths, a café, and other amenities. It's the co-working company's fourth location in New York City and eighth in the US.
Opened in 1907 as the Engineering Societies' Building and Engineers' Club, 25 W. 39th St. was constructed with a $1.5 million gift from Andrew Carnegie. It featured a 1,000-seat auditorium and one of the largest engineering libraries in the world. Renowned innovators such as Thomas Edison and Nikola Tesla frequented the club as members. After the Engineering Societies' left in 1961, the building was converted to office space.
In addition to Thor Equities, other building tenants include The Squash Center, Spark Labs, Halston, Movado, Seven for all Mankind and VF Jeanswear.
In the National Register of Historic Places, the building maintains many distinctive architectural features. This includes barrel vaulted terra cotta ceilings, exposed steel columns, and 12' ceiling heights.
Thor Equities paid $105 million, acquiring the 208,000 square-foot, 18-story building from Crown Acquisitions in December 2006, according to Real Capital Analytics. The real estate information database also recorded that Crown had acquired the building from Tommy Hilfiger for $53 million in November 2005.
Arthur Mirante, John Ryan, Patrick Steffens and Dominic Perkovic of Avison Young represented the landlord in the transaction with Adam Lavinsky of Thor Equities. Jeffrey Roseman of NGKF and John Klein of Accelerator Advisors represented The Wing.
Join the GlobeSt.com Women of Influence 2019 conference July 10th and 11th in Broomfield, CO, which celebrates the women who drive the commercial real estate industry forward. The event will address the critical role of women in the CRE business. Click here to register and view the agenda.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
