Above Streetlevel: Times Renews at 16 Court
As SL Green starts to revamp the empty spaces and lobby at 16 Court Street, which the firm acquired last year for $107.5 million, at least one high-profile tenant has re-upped its lease for the next five years. The New York Times renewed its lease for 1,174 square feet of space in the building through…
As SL Green starts to revamp the empty spaces and lobby at 16 Court Street, which the firm acquired last year for $107.5 million, at least one high-profile tenant has re-upped its lease for the next five years. The New York Times renewed its lease for 1,174 square feet of space in the building through August 2012. The Times uses the space for the Brooklyn component of its editorial division, according to a rep for SL Green. Though the terms of the lease weren’t disclosed, SL Green’s website shows that most of the space in the building is available for between $40 and $45 a foot. SL Green, which is Manhattan’s largest office landlord, has announced plans to completely refurbish 16 Court and offer pre-built, state-of-the-art office spaces; the latter move is meant to attract smaller tenants. GMAP
I work in this building. Tenants recently got a letter banning bikes from the entire building, even if you use the freight elevator and store them in a safe manner in your office! They apparently think that a sidewalk bike rack around the corner is a good alternative to storing a bike indoors.
So much for sustainability in NYC transportation.
really DINKY in reality. what’s the deal?
1,100 sf in an SL Green building is about 600 sf in reality.
5:25 brings up a good point. Out of 100,000 sf, why should a dinky 1,100 sf lease for the NYT be newsworthy?
SL Green is a corrupt, unethical operation. The building will be milked, the exising tenants will be harassed, the rents will soar to unreasonable levels, square footage will be grossly exagerated, leases will be full of weird price escalations, etc. these are the folks who are the NYC leaders in shady practices, think about that, that’s saying something. There are no lower skunks in commercial real estate today, perhaps the Witkoffs, but not even.
#2.
I think just about all the lawyers in Brooklyn are renting in this building. WSB was for the dentists & this building is for lawyers. It is conveniently located right across from the court house.
Amazing how an 1,100 sf lease in a building that size is newsworthy.
My lawyer has an office in this building. Supposedly, this building is the tallest commercial building in Brooklyn, after the WSB went condo. The inside needs some serious upgrades but the exterior is amazing!
I always thought this building would go condo. It would do very well but too bad it missed it’s opportunity right now. Oh well, they will now have to wait for the next building boom. Maybe they will learn to not give out long term leases this time.
if its SL Green expect them to never clean the outside windows.