Night at 51 Astor Place

A look inside the retail space for lease at 51 Astor Place… photo by Bobby Williams

And now, reaction to Twitter arriving in the East Village

Crain's broke the news yesterday that Twitter was negotiating to lease a big hunk of 51 Astor Place…

We sought some reaction from Twitter...

@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

Report: Twitter showing some tweet, tweet love toward 51 Astor Place

Big story this afternoon via Crain's: Twitter is in talks to take a big (more than 140 characters!) chunk of 51 Astor Place.

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.

Last month, 1stdibs, an online auctioneer that specializes in the sale of high-end vintage goods, a showcase for a large (1,800) group of antique and design and art dealers, agreed to a deal to take the 12-story building's entire third floor.

Worth noting, maybe: Facebook is moving into space across the street at 770 Broadway. Rumble on Astor Place!

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place

51 Astor Place demolition begins July 1; 17 months to build new black-glass tower

East Village — the new Midtown?

Facebook is moving into the neighborhood; Midtown South expands its boundaries, apparently

51 Astor Place has its 1st tenant! 51 Astor Place has its 1st tenant! 51 Astor Place has its 1st tenant!

[EVG file photo]

You may have heard the news from Crain's yesterday afternoon: 51 Astor Place has its very first tenant!

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.

Woo!

And there may be more celebrating in the near future. Developer Edward Minskoff said, "We're very close to another deal. And we're in negotiations with six other tenants."

The 400,000-square-foot development opened in May without any signed tenants.

Meanwhile! The reaction from Twitter?

.@evgrieve With their first rent bill, of course!

— 51 Astor Place (@51deathstar) October 11, 2013

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place

51 Astor Place demolition begins July 1; 17 months to build new black-glass tower

East Village — the new Midtown?

Noted

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

No subtweeting here in Midtown South!

Report: 51 Astor Place remains tenant free for now

[EVG file photo]

The Wall Street Journal had an article yesterday (subscription required) on the well-regarded brokerage firm Jones Lang LaSalle and its work leasing 51 Astor Place.

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.

And there were a few close calls, such as Microsoft, which opted for Times Square, and Facebook, which decided to lease space directly across the street at 770 Broadway in Midtown South.

Regardless, Paul Glickman, a vice chairman at Jones Lang, told the Journal that "70 percent of the building is close to being leased but declined to name tenants."

Sources said that developer Edward Minskoff "took a risk by developing a modern office tower in a neighborhood best known for funky older buildings — in high demand among technology firms and media businesses."

There's also a matter of rent, which may be too pricy for the area. Rents at 51 Astor reportedly vary from the $80 a square foot for lower floors to more than $100 a square foot for higher floors.

Previously on EV Grieve:
51 Astor Place demolition begins July 1; 17 months to build new black-glass tower

East Village — the new Midtown?

St. John's coming to 51 Astor Place?

St. John’s University is looking to lease space at 51 Astor Place, Lois Weiss at the Post reports today. As she notes, the building needs to rent about 50,000 square feet to a school to fulfill zoning requirements.

Not a done deal, though.

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.

The school is selling its campus location in Tribeca, Weiss reported.

[Updated] Breaking in the public plaza at 51 Astor Place

The 24-hour public plaza outside 51 Astor Place was unveiled back on June 21... and people have been using and enjoying the space, as far as we can tell...

... and it's starting to have that lived-in East Village look, complete with litter, tags and overflowing trash cans... as seen this weekend...







Updated 5:15

EVG reader John passes along this photo... showing a spotlessly clean plaza... the tags are gone. Ditto for the heading piles of trash...

The 'tremendous retail potential' of East 10th Street and 4th Avenue

There are renewed efforts to develop the long empty space on East 10th Street and Fourth Avenue ... for sale signs appeared on the corner lot last week ... There were plans to build a 13-story hotel here, though the city never OK'd that proposal, as Curbed reported in 2009.

Now what is being pitched? According to the Massey Knakal listing:

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.

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.

And here is a rendering showing the possibilities...



Price for the lot: $24 million.

A market and St. Marx Music were the most recent tenants here, going back to 2007 ... Jeremiah Moss, who has written extensively about this corridor's history, has more about the plans for East 10th Street and Fourth Avenue today here ....

3 retail spaces available at 51 Astor Place

The 24-hour public plaza opened last week outside 51 Astor Place... there are more developments to note as well, such as the retail space for the 400,000-square-foot office building.

According to the listing at RKF, there are three retail spaces available:

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

The floor plans give you of better idea of what will fit where...



Not much other information on the listing, aside from "Flagship opportunity" and "incredible exposure to a heavily foot-trafficked area."

The marketing materials also note that there are "35,000 residents under 35 in the immediate area" as well as "53,500 undergraduate and graduate students in the surrounding area."

So what kind of "flagship opportunities" will be realized here?

Death Star Public Plaza — now open!

EVG reader John let us know that the public plaza is open at 51 Astor Place... and people are taking advantage ...

Plywood removal means full reveal at 51 Astor Place

Workers removed the remaining plywood around 51 Astor Place, and the front entrance and public plaza are now in full view...



And was there always a pay phone here? (And is this thing going to remain? Seems so unfabulous for the address.)



And I don't know why I took this shot.

51 Astor Place's Fourth Avenue entrance is actually on East Ninth Street

Over on the Fourth Avenue side of the incoming 51 Astor Place building... (sidebar: Woo — balloons!)



The entrance has come into view... As EVG regular Terry Howell points out ..."I did notice that they seem to have built it wrong way round. The sign says "100 East 9th St." when the door is obviously on 4th Ave. This will really confuse the tourists."



Perhaps. Meantime, we're still confused by our headline.

Workers remove tree that survived 51 Astor Place construction

Along Third Avenue between East Ninth Street and Astor Place, one tree remain throughout construction of 51 Astor Place... Having survived all that, a worker was spotted yesterday...




[Stephen Popkin]

...removing the tree...



Previously on EV Grieve:
Workers chopping down trees at 51 Astor Place

I can't stop taking photos of 51 Astor Place

I know. I know! There is some sort of life force within the new building that compels me to take out a camera every time I walk by... (And I've tried taking different routes...)

Oh, and the front entrance and public plaza are shaping up...







Now I want to go inside. (Via 51AP's official renderings)

51 Astor Place sidewalk bridge is coming down...

Via Twitter yesterday afternoon, @kxd8053 let us know that workers were starting to remove the remaining section of the sidewalk bridge around 51 Astor Place... which provides a slightly less obstructed view of...
‏






And a few commenters here and on Facebook have said that they are starting to come around a bit to the building...

Pyramid scheme

A view of 51 Astor Place via EVG contributor jdx ...

Public plaza outside 51 Astor Place taking shape

Workers continue to create the plaza area in front of 51 Astor Place, the in-progress 12-story office building at the gateway (from the west) into the neighborhood ... the trees arrived for the space a few weeks back... we took a quick look inside yesterday, and spotted the granite seatbacks .. among other things, the plaza will feature plantings, bike racks and a piece of public art.

Here are some of the renderings showing the public plaza from one of the earlier meetings on the development...





Previously on EV Grieve:
The demolition of 51 Astor Place means the end of the New York Film Academy Café here

[June 2011]

What we learned today about 51 Astor Place

The New York Times has an article today titled "A Sleek Office Building Rises Over Gritty Astor Place."

Here are a few soundbites and factoids about 51 Astor Place from the article:

• "Three storefronts will wrap around the ground floor, one of which will house a bank ... A school will occupy a second-floor space."

• "Ultimately, 51 Astor might have to settle for $80 a foot, said Greg Kraut, an Avison Young principal who is not involved with the project, in order to compete with its chief rival in the area, 770 Broadway, which has large floor plans like 51 Astor and where rents are around $75 a foot."

• “You’ve got life down here, so it’s safe at night when 25-year-olds leave work,” said [51 Astor Place developer] Edward Minskoff.

And how might 51 Astor Place and its 13 stories of office workers and students impact the shops-bars-restaurants on St. Marks Place between Third and Second Avenues?

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.”

Previously on EV Grieve:
51 Astor Place demolition begins July 1; 17 months to build new black-glass tower

East Village — the new Midtown?

Breaking: Death Star getting some life

As this photo from ‏@Ewingweb shows... workers are putting in some shrubbery, trees, etc., this afternoon outside 51 Astor Place... hopefully there will be some sun left for the green things.