WINDOW INTO 1250 BROADWAY
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
|It’s been 18 months since Murray Hill Properties and Jamestown’s $310M purchase of 1250 Broadway from SL Green, so we dropped by the building to meet with MHP leasing brokers Eric Levy and AJ Camhi. (Brad Siderow is also on the team.) 65k-SF of activity over the past three months has increased occupancy to 97%, including law firm Finkelstein Newman Ferrarra’s 15.4k-SF move from Downtown; Science Applications International Corp’s 15.2k-SF renewal; Compupay’s 8.6k-SF lease; and the most recent, WeRecoverData.com’s 2.3K-SF sublease. The last remaining space is the 15.3k-SF 36th floor, where we snapped this pic.|
|They tell us that ownership is also focusing efforts on turning 1250’s former IT space on the Penthouse into a high-end restaurant with 22-foot ceilings. (Above, what could potentially be.) The restaurant, which would give a three-directional view of the Manhattan skyline, will give the building an identity it never had before, they say. Installation on 1 6' high windows should be completed next month, and the team is in talks with two established NYC restaurants to take the space, and also welcoming others. Though don’t the high ceilings just cry out for a McDonald’s PlayPlace?|
|The team’s efforts have accounted for nearly one-fifth of all direct deals in the Penn Plaza district during 3Q, according CoStar. They also recently repped Progressive Credit Union in the $6.9M purchase of a 15.2k-SF office condo at 131 W. 33rd St. and a separate retail deal for 11.4k-SF on W. 32nd St. They tell us that Penn Plaza, where MHP also owns 1412 Broadway, has been a fairly active market, with a lack of quality elsewhere in the 10k to 15k-SF arena—making it easy to get a deal done, even in this market.|