X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Arista Records’ hotly anticipated move from its current offices at 6 W. 57th St.–the Arista Building–to three floors at Vornado’s 888 Seventh Ave. will happen during the second quarter of 2003. Arista has signed a sublease deal with publisher Random House for 57,145 sf at the 46-story property.

Colliers ABR Inc. senior managing director Paul Mas and director Mark Furst represented Arista in negotiating the 11-year sublease. Cushman & Wakefield vice chairman Donald DiRenzo Sr. and director Emmett Noonan brokered for sublessor Random House.

The three-floor space is nearly as large as the legendary record company’s current Solow Building Co. quarters, where Arista occupies all 10 office floors for a total of 60,000 sf. Financial details of the new lease are not being disclosed, but published asking rents for sublease space at the 866,357-sf property range from $30 to $50 per sf.

Arista will occupy floors 38, 39 and 40 of the 31-year-old asset for its Manhattan headquarters. “This is beautifully built-out and furnished space that’s ideally suited to Arista’s requirements,” says Furst. “We’re delighted to have been able to consummate this transaction so quickly and efficiently on behalf of our client.” Both Arista and Random House are divisions of German media conglomerate Bertelsmann AG.

Completed in 1971, 888 Seventh Ave. is home to Vornado’s New York offices. Designed by Emory Roth & Sons, one of the city’s most prolific architecture firms, the building’s office tenant roster includes Victoria’s Secret, New Line Cinema, Golden books Entertainment Inc., Stanley H. Kaplan, Hearst Argyle and Soros Fund Management LLC. It also houses the popular Red Eye Grill restaurant.

Located on the northwest corner of Seventh Avenue and 56th Street and running the entire block-front to 57th Street, the property’s floorplates range in size from 22,400 near the base to 19,800 for the upper floors. The building comprises 45 rentable floors plus a penthouse. There are three levels below grade.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.