The source says that rents at the 52-story building, whichcontains 42 tenant floors averaging 40,000 sf, range between $75and $85 per sf. In May 2006, the firm opened the 1.7-million-sftower at 250 Greenwich St., just north of the World Trade Centersite.
Silverstein Properties owns, manages, and has developed 20million sf of office, residential, and retail. HSBC tellsGlobeSt.com that the firm "does not comment on market rumors orspeculation." When asked if a deal is struck, if the firm wouldsell its 500,000-sf building at 452 Fifth Ave., an HSBCrepresentative says that "HSBC regularly reviews its real estateholdings in order to evaluate and leverage their overall value, andsuch reviews include our office property at 452 Fifth Avenue in NewYork."
As GlobeSt.com has reported, Downtown is proving naysayer'swrong. So said Silverstein, president and CEO of the firm,in regards to those who believed Downtown was finished after 9/11,when he spoke with the Center for Real Estate Studies at New YorkLaw School breakfast. Hugh Finnegan, an attorney in the real estategroup at Sullivan & Worcester LLP, tells GlobeSt.com that thispotential lease is a significant boost for downtown. "It reflects asignificant investment from a major international financialinstitution in the future of Lower Manhattan."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
