Tishman Speyer In Late-Stage Talks For USPS Facility Leasehold Deal
Tishman Speyer is reportedly close to buying the leasehold on several floors of a U.S. Postal Service building on Ninth Avenue.
The 99-year deal, which is set to close this year, would see the company taking the leasehold on 600K SF across six floors in the Morgan General Mail Facility at 341 Ninth Ave., The Real Deal reports.
The rent the company will pay is not clear, and there were reportedly several bidders for the space. Tishman is planning to convert it into Class-A office space, according to TRD.
The 1.4M SF building covers two blocks between Ninth and 10th avenues, and is connected underground to the Farley Post Office.
Tishman Speyer, which owns Rockefeller Center and the Chrysler Building, is also building a Manhattan West tower called The Spiral at 66 Hudson Blvd.
The Bjarke Ingels-designed building is expected to take four years to build. Pfizer is moving its headquarters there in 2022 on a 20-year lease.
