Macquarie Group's lease expansion was for an additional six floors, as well as portions of the eighth and ground floors at the 23-story tower. Cushman & Wakefield represented the firm, which employs more than 13,800 people in 25 countries. Cushman and Wakefield was unable to provide answers to GlobeSt.com queries by deadline, although rents in the building reportedly start at $90 per sf.
C&W's Josh Kuriloff and Robert Tanzmann represented Macquarie Group in its site search and in lease negotiations with the building's ownership, Boston Properties Inc. Andrew Levin, senior vice president of Boston Properties' New York Region, represented the owner. Macquarie Group tells GlobeSt.com that they cannot provide any further information such as the reasoning behind expanding and renewing.
Built in 1989 by architect Edward Larrabee Barnes & Associates, 125 W. 55th St. totals approximately 590,000 sf. In addition to Macquarie Group, major office tenants include Katz Media Group and Air France.
A joint venture in which Boston Properties owns a majority interest acquired the building for $444 million in August, 2008 from an affiliate of Macklowe Properties, as GlobeSt.com reported. That purchase price included the assumption of an aggregate principal amount of $263.5 million of secured and mezzanine loans having a weighted-average fixed interest rate of 6.31% per annum, all of which mature in March 2010.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, 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.
