51 Astor Place – The Hottest New Office Building in Midtown South – Perfect For A Hedge Fund, Technology Company or Creative User

February 1, 2013

Lance Leighton

Co-Founder – HedgeFundSpaces.com
Senior Managing Director, Savills
New York State Licensed Real Estate Salesperson

Call 212-326-8668

51 Astor Place – A Brand New, State of the Art Office Building In Midtown South

For both residential and commercial real estate, Greenwich Village is one of the hottest neighborhoods in New York City.  Known for chic restaurants, lounges and shopping, many office space users are gravitating to this popular neighborhood for start-up ventures and potential relocations.  However, the majority of the office buildings in “The Village” are very old.  Much of the existing technology and mechanical systems are outdated and in many cases, an incoming tenant’s technology requirements cannot be accommodated — especially the high-tech and financial tenants that have recently become enamored with this part of town.  Minskoff Equities’ 51 Astor Place will not have this problem.  The firm is very close to completing its brand new, LEED Gold certified, state-of-the-art office and education building, with all the bells and whistles any company could want or need.  (click here for an online brochure and introductory video)

Located between 9th Street and St. Marks and between Third and Fourth Avenues, 51 Astor Place is unlike any other building in Midtown South.  Wrapped in glass, this is the only modern office tower in the neighborhood and was designed to offer more efficiencies and competencies than competing building stock.  (Looking for other office spaces in Midtown South?  Click here for a free search)

To start, 51 Astor features a LEED Gold Certification.   LEED stands for Leadership in Energy and Environmental Design.  To gain LEED status, a building must conform to the highest standards of sustainability, water efficiency, energy and atmosphere, materials and resources and indoor environmental quality.  Accordingly, the asset is a leader in all of the aforementioned categories.  In addition to being LEED Gold Certified, 51 Astor features 14’ slab heights on all of the floors and an unusual 18’ height for the penthouse.  The building has floor to ceiling windows with no convectors resulting in a tremendous amount of natural light.  The floorplates are virtually column free and extremely efficient for just about any type of user.

Aside from LEED Certification, column free floorplates and increased efficiencies, Minskoff made sure to have state of the art technology in place.  In an effort to attract big name technology companies, hedge funds and financial services tenants, the developer wanted to be as technologically prepared for users as possible.  As a result, they hired Eze Castle Integration, the industry leader in IT solutions, to consult on all aspects of the building’s infrastructure.  According to Jeff Sussman, Executive Vice President at Minskoff’s firm, “Eze Castle told me what to do in the building and we did it”, referring to the premeditated and robust technology.  The building offers 8 watts per rentable square foot of electric and generator capacity for tenants use.  Therefore, the asset has the ability to handle the most demanding users in today’s business environments.

Asking rents for the building will be in the high $80’s to the $120’s per square foot range.  Construction is scheduled to be completed by May 1st of this year.

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