From The Wall Street Journal today:
Edward Minskoff, a member of one of New York's storied real-estate families, is hoping to begin construction in July on what would be the city's first large "speculative" new office building since the collapse of Lehman Brothers in 2008.
Mr. Minskoff says he will begin construction without any pre-leasing on a Maki and Associates-designed, 430,000-square-foot tower on a site overlooking Astor Place that he acquired in late 2007. Just outside the trendy East Village, it's an unorthodox location for an office building. Most of the city's modern office space is in Midtown and the Financial District.
But in a recent interview, Mr. Minskoff predicted that the building would attract high-tech companies, investment banks, insurance and advertising firms. "It's an area that a lot of young people want to work in," he said. He plans to charge about $65 a square foot per year, a modest amount for new space.
The Journal piece came via Curbed, who note: "Though Astor Place seems like an odd location for a new office building, AOL and J. Crew already call the gateway to the East Village home." True. Construction is slated for July, with an 2013 opening date. May want to enjoy that Film Academy coffee while you can.
[Photo via Curbed]