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A look inside the retail space for lease at 51 Astor Place… photo by Bobby Williams
@evgrieve I got so excited when I heard that I sprinkled myself! I'm gonna be The Twit Building!
— 51 Astor Place (@51deathstar) November 19, 2013
The company is in talks to take as much as 100,000 square feet at 51 Astor Place, an office building that was begun in 2011 on a bet that the city's tech boom would produce deep-pocketed tenants willing and able to pay the building's high-priced rents despite its off-beat location on the edge of the East Village. That gamble by the building's developer, Edward Minskoff, now appears to be paying off.
1stdibs, an online auctioneer that specializes in the sale of high end vintage goods ranging from furniture to fine art, has agreed to a deal to take the 12-story building's entire third floor, a 42,232-square-foot space, for 15-years.
.@evgrieve With their first rent bill, of course!
— 51 Astor Place (@51deathstar) October 11, 2013
Hey @770Broadway! Old called. It wants you back.
— 51 Astor Place (@51deathstar) October 3, 2013
You wish! RT @770Broadway Please stop tweeting me.
— 51 Astor Place (@51deathstar) October 3, 2013
Now the firm is facing one of its biggest challenges yet: representing developer Edward Minskoff in his effort to lease up his new 400,000-square-foot development at 51 Astor Place in the East Village. The building, which opened in May, has yet to sign a single tenant.
But sources said the cost for the Fumihiko Maki-designed space is roughly $90 a square foot, and is not sitting well with some of the school insiders, who have been mortified by financial scandals that rocked the school over the last year and feel the high tab is not in keeping with its Catholic roots.
This prime residential development site is located on the southeast corner of Fourth Avenue and East 10th Street. Currently, there are two seperate buildings, but both the properties can be delivered vacant to allow for future development. Plans exist for a nine story mixed-use building with 8 floor through apartments and a bi-level retail space with double height ceilings. The existing properties are also available for lease.And here is a rendering showing the possibilities...
This corner site has tremendous retail potential. Astor Place, which is only two blocks to the south, is a major transportation hub ... Minskoff Equities’ 51 Astor Place has been a game changer for the area. Designed by Japanese architect Fumihiko Maki, it reaches 13 stories with 400,000 rentable square feet. Its top office floors are asking over $100/SF and its retail is rumored to be looking for $300s/SF. The retail at 41 7th Avenue will certainly benefit from its close proximity and should be able to achieve $200/SF from a luxury retailer or top restauranteur.
Space A
Ground Floor 9,217
Lower Level 8,145 SF
Total 17,362 SF
Space B
Ground Floor 3,397 SF
Space C
Ground Floor 2,946 SF
Despite periodic attempts to change the mix of retail, the block seems proudly resistant to change, even while the rest of the East Village has become more upscale, says William Kelley, executive director of the Village Alliance, the business improvement district responsible for keeping the area clean. “I think the office workers will bring a new audience,” Mr. Kelley said. “But I don’t foresee any sweeping changes here for the next 100 years.”