News
LET'S MAKE A DEAL?
April 25, 2012
| Random House took the sure thing by renewing 361k SF of its lease at 1745 Broadway through 2023, rather than waiting to see what's behind Door #1. In this case, that's lease terms in 2018, when the book publisher's existing lease expires, and what those are going to look like are anyone's guess, including Monty Hall. |
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| The 50-story building between 55th and 56th streets delivered in '03, and Random House owned and occupied the entire 645k SF office condo portion (floors 2 through 25). SL Green bought it five years and one day ago. So while Random House has downsized, it's committing to floors 2 through 13 for 11 more years while leaving the higher floors to subleasers. (You could say it's down but not out.) Cassidy Turley's Richard Bernstein repped Random House. |
