The Meatpacking District building that houses Pastis, the famed French bistro, is headed for a historic redevelopment along with the adjacent property.
William Gottlieb Real Estate, which owns 9-11 Ninth Ave. and 406 W. 13th St., has joined with Aurora Capital Associates to modernize and enlarge the buildings into a 108,000 square-foot office and flagship retail property.
The company, founded by the late and notoriously reclusive Gottlieb, owns more than 100 properties in Greenwich Village and the Meatpacking District. They are managed and leased by affiliate William Gottlieb Management Co. and headed by Irving Bender and his son, Neil Bender. Irving’s late wife, Molly, was Gottlieb’s sister.
The two low-rise buildings are on an 18,000-square-foot plot and have 250 feet of wraparound frontage, along with roughly 100,000 square feet of available air rights that will be used to add another five or six floors. The current lower façade will also be restored.
Peter Wormser is the architect for the project, which will be taken through Landmarks Commission approvals. The 13th Street building was an 1847 Greek Revival-style row house, while the 1870s-era Ninth Avenue buildings were owned by John Jacob Astor and the Astor family until the 1940s.
The Benders and Aurora’s president, Bobby Cayre, told us they were excited to work together on this project and others.
Already the Benders have invested in Aurora’s 21-27 Ninth Ave., where Sephora and Catch are the retailers, and more co-investments are expected.
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With insight from the Avison Young New Media Report, we are hereby outing a gaggle of non-financial tenants seeking juicy spaces. Some have been previously identified and some are new to the market — but all fall into the technology, advertising and media fields.
GroupM, the media-buying arm of global ad behemoth WPP, is the gorilla on the list, looking for 500,000 square feet with CBRE. According to CoStar, GroupM is currently housed in 86,438 square feet at 498 Seventh and would likely consolidate other brands in the next location.
In a highly watched search for 200,000 square feet, Microsoft is working with Jones Lang LaSalle. Sources said the software giant “loved” Boston Properties’ 250 W. 55th St., especially the third-floor roof deck with its slanted “infinity” garden.
Speaking at yesterday’s AREW luncheon, Boston Property exec Robert Selsam said it will plant large trees there next spring. He also revealed that a sparkling water wall sculpture will be flowing in the lobby.
Two months ago, sources said Microsoft would have to take an entire elevator bank of about 15 floors totaling 352,733 square feet to get its own lobby entrance, or about 150,000 more than it has been seeking.
Selsam declined to discuss Microsoft or ID the tenant — known in the market to be Kaye Scholer — with which he is still negotiating for those lower floors.
Microsoft has been heavily courted by its current building owner, Vornado Realty Trust at 1290 Ave. of the Americas, as well as by 11 Times Square. Earlier, Ed Minskoff tried to make his new 1 Astor Place into Microsoft Place and transform the East Village.
Etsy.com, the crafty site that already has a small, art-filled office in Brooklyn, is entering the big time with a need for 150,000 square feet, also with CBRE.
Broadcasting Media Partners wants 135,00 square feet, while four companies are seeking roughly 100,000 square feet. They are: Facebook; Level Three Communications; Nielsen Media Research, working with CBRE; and Media Ocean, also with CBRE.
Google, which is having some angst elbowing tenants out of its 111 Eighth, is working with CBRE to find 80,000 square feet.
Sources said Google may sublease GFK Custom Research’s 90,000 square feet at the nearby Chelsea Market. GFK, in turn, is working with CRESA Partners to find a new home of around 75,000 square feet and better efficiencies.
Medidata and Sprint are also in search of 80,000 square feet, while we’ll end our list with Burst Media seeking 65,000 square feet.
Happy hunting!
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On Deck Capital has signed a nearly 11-year full floor lease at 1400 Broadway. The 20,354 square-foot lease for the 25th floor had a rent averaging in the low-$50s per foot.
Paul Ippolito of Newmark Grubb Knight Frank represented the company, while a Newmark team of Scott Klau, Neil Rubin and Erik Harris represented the Malkin Properties-owned Times Square South tower.
On Deck, which is now located at 155 E. 56th St., is in the business of connecting small businesses with loans through fast, online applications.
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Billy Macklowe, the CEO of William Macklowe Co., along with partner Principal Real Estate Investors, closed Friday on the purchase of 386 Park Ave. South from Savanna and Monday Properties for between $110 million and $113 million.
The 270,000 square-foot Art Deco building was marketed by Eastdil Secured.
Macklowe declined to discuss pricing but said they will be “re-imagining” the base of the property with a renovation by STUDIOS Architecture. It will get a new lower façade, entrance, lobby, “destination” elevators and some full-floor pre-builts of 11,000 to 15,000 square feet that should be ready in the first quarter of next year.
“This will really make the building feel new, hip and terrific, and not like your grandfather’s office building,” Macklowe said.
Macklowe declined to comment on this, but sources said CBRE’s Paul Amrich will head the leasing team for the building’s availabilities, which should start renting in the $50s and up a square foot.
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Joe Chetrit has closed for $26.5 million on a mid-block Hudson Yards development site that was marketed by Robert Knakal, chairman of Massey Knakal.
The four industrial lots at 541-545 W. 37th St. and 540-548 W. 38th St. had been owned by Baruch Singer before lender Fortress foreclosed.
The site can be developed as-of-right to 172,813 square feet and to 373,275 square feet with the area’s bonus air rights.
Knakal said he expects Chetrit will build a hotel with residential apartments above.