WHAT WOULD GEORGE DO?
|But some tenants still heart Midtown. The Open Society Foundations (founded by bajillionaire George Soros) just inked a 30-year, 160k SF full-building lease at The Argonaut Building on 224 W 57th St, where it'll relocate in Q3 '12 and more than double the size of its Manhattan footprint. Hanley Advisors' James Coleman and Steve Kaufman and CBRE's Eric Deutsch repped the tenant, while Colliers International's Brian Given, Michael Cohen, Robert Bakst, and Robert Sass repped owner M1 Real Estate.|
|A tax photo of the building circa the early 1940s, with old-time tenant Cadillac LaSalle. The Argonaut Building has housed two single occupants in its lifetime: General Motors from 1916 to 1977 (it was the carmaker's original NYC HQ, complete with a service elevator that lifts cars to each floor) and The Hearst Corp, which moved to nearby Hearst Tower in '06. M1 Real Estate put $25M into renovations, and now it's LEED Gold.|