With its brick walls, two-story atrium and high-tech infrastructure, the building is expected to attract an eclectic, technology-based tenant group. It has 12,000-sf floorplates and a 3,500-sf penthouse with a terrace. It is being marketed for either single or multi-tenant occupancy.
The building's owner and redeveloper is The Kay Organization, based in the Bronx, NY. Kay has put the marketing/leasing effort in the hands of Cushman & Wakefield. Brokers involved are Matthew Seltzer of C&W's East Rutherford, NJ office, and John Isaacs and Larry Tannenbaum of the Midtown Manhattan office.
"The property is located within an urban enterprise zone, which makes it eligible for a tax abatement," Seltzer points out. "That should make it even more appealing, because occupancy will cost about one-third compared to New York City."
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