Incredible Furnished Office Space on the Top Floor of One of New York City’s Best Office Buildings
“Flight to quality” is a reoccurring theme in office space markets throughout the country. Companies who have the financial wherewithal have been increasingly opting for new construction and upgraded assets for their workplaces and employees’ well-being. The allure of talent recruitment, retention, wellness and efficiency have also become the most important drivers for office relocation decisions. Higher ceilings, floor-to-ceiling windows and efficient floorplates, where tenants can do more with less, are added bonuses. That being said, new construction trades at a significant premium to antiquated office product, however, for the “Kings of the Universe”, this differential can be easily quantified. Additionally, it is even easier to justify the splurge when it is an opportunity for a hedge fund sublease from one of the top money managers in the world.
One of the newest trophy office buildings in Midtown Manhattan, 250 West 55th Street, has seen a tremendous amount of leasing velocity since its opening due to the “flight to quality” theme. Large leases signed by Soros Fund Management, Arnold & Porter Kaye Scholer, Morrison and Foerster, and Lyrical Partners, just to name a few, have lead to nearly 100% occupancy in this New York City trophy building. With only 15,000 square feet of direct availabilities remaining from Boston Properties, the success of the building is evident. However, there is a unique full floor opportunity that just hit the market- and it happens to be the top floor of the building.
Offered for sublease from Soros Fund Management, the entire 38th floor is without a doubt one of the most luxuriously appointed office spaces in Midtown. As a matter of fact, it is exactly what you would expect for the executive office of the world’s 22nd richest man. Utilizing a tremendous amount of wood, glass, steel, sheetrock and other high-end finishes, the floor was just completed with 3 partner offices (including 1 executive suite with private chamber/study, large private bathroom and oversized connected conference room), 6 additional conference rooms, 11 standard offices, 5 interior offices, 2 private guest bathrooms and 40 trading positions. The floor is also outfitted with a full chef’s kitchen. Although the asking rent is a bit steep (click here for the asking rental rate), the furniture and infrastructure can be an easy validator for the steep rent. If that’s not enough, perhaps the views of Central Park, NJ and Downtown can move the needle for the decision.
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