Catching up with a piece from Bloomberg yesterday about the incoming 51 Astor Place.
Developer Edward Minskoff said that he is seeking between $88 and $115 a square foot — rates that approach "the highest rents for top-quality space in Midtown Manhattan, the most expensive U.S. office market, as a booming technology market fuels demand for trendier areas."
Per the article: "Office demand in New York is shifting from the glossy skyscrapers of Midtown preferred by banks to the quirkier mix of neighborhoods to its south that’s home to Chelsea warehouses, Soho galleries and the punky shops on St. Mark's Place where Joey Ramone and Madonna refined their fashion sense."
Minskoff went on to say that he "expects a company will pay for the opportunity to plant its flag in the East Village the way Google asserted its presence in Chelsea."
Per the article: "The Google building is a good building, but it’s a big factory building," he said. "It doesn't knock your socks off. Fifty-one Astor is like an island. It’s very, very visible."
So years from now we can revisit the "the quirkier mix of neighborhoods" to see how they fared during this post-Midtown boom.
We've been curious how
Or will the 51 Astor-Sculpture for Living glass-tower combo be too much to overcome? Will everything be crushed underfoot? Or, perhaps, 51 really will be an island safely moored off shore from the rest of the neighborhood ...
Previously on EV Grieve:
51 Astor Place demolition begins July 1; 17 months to build new black-glass tower
East Village — the new Midtown?