Office

2 World Trade Center

Media Companies Back Out Of Anchoring Bjarke Ingels-Designed 2 World Trade Center, Financial District

11:00 am on January 19, 2016 By Reid Wilson

Last summer, News Corp. and 21st Century Fox signed a letter of intent to lease 1.3 million square feet in the Bjarke Ingels Group-designed 2 World Trade Center (a.k.a. 200 Greenwich Street), in the Financial District. It was never a contract that bounded the media companies to the space, and last week they decided not to make the move, Bloomberg Business reported. The two businesses will extend their leases through 2025 at their current headquarters at 1211 Sixth Avenue and 1185 Sixth Avenue, in Midtown. The fate of both Bjarke Ingels’ latest design and Norman Foster’s original design are unknown. The foundation for Foster’s tower, a 2.8-million square-foot, 80-story office building, has already been already built.

25 Kent Avenue, rendering via Heritage Equity Partners

How the City is Encouraging Office Development and Manufacturing in North Williamsburg

4:30 pm on January 15, 2016 By Rebecca Baird-Remba

Just as the MTA considers a lengthy L train shutdown to repair flood damage from Hurricane Sandy, the Department of City Planning has kicked off the approval process for Williamsburg’s first new office building in decades. But the rezoning for the development at 25 Kent Avenue includes a policy that could shape industrial areas throughout the city. It would create a special district that allows developers to trade light manufacturing space for extra office space.

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375 Pearl Street

Office Renovation, Leasing Underway At 32-Story Verizon Building, 375 Pearl Street, Civic Center

4:00 pm on January 15, 2016 By Reid Wilson

Sabey Data Center Properties is in the middle of renovating the former Verizon Building, a 32-story, 1.1-million square-foot building at 375 Pearl Street, in Lower Manhattan’s Civic Center. The building was designed by Rose, Beaton & Rose and completed in 1976. Up to 15 floors, or 500,000 square feet, are being converted into office space, dubbed Intergate.Manhattan, and the remaining area will be exclusively data center space. Three sides of the building on the new office levels will receive a glass façade. According to The Real Deal, the city’s Department of Finance is planning to lease 175,000 square feet of space located on the 26th through 30th floors. Other smaller leases have been signed over the past two years, and the renovation is expected to be complete by the end of this year.

5018 Fourth Avenue

Developer Plans Conversion Project At Four-Story Building At 5018 Fourth Avenue, Sunset Park

2:00 pm on January 14, 2016 By Reid Wilson

The four-story, 24,000 square-foot commercial building at 5018-5024 4th Avenue, in Sunset Park, has been purchased by developer Congregation Imrei Yehudah for more than $7.5 million. According to the Brooklyn Daily Eagle, the new owner plans to convert the vacant building into residential units or office space. The 6,400 square-foot lot also contains 2,880 square feet of air rights, which could go towards expanding the building. It’s conveniently located three blocks north of the 53rd Street stop on the R train.

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