![]() The goal was to knock down the building and erect a soaring luxury condo tower with sweeping views of the park in its place. Roth's Vornado Realty Trust has been trying to clear out the renters in its 20-story apartment building at 220 Central Park South. Just when developer Steven Roth thought he had cleared his biggest hurdle for a planned new skyscraper on Central Park's southern edge, here comes Gary Barnett.įor more than five years, Mr. Barnett also owns a neighboring lot on 58th Street - adjacent to another Vornado-Clarett building at 229 West 58th Street - and has already filed plans to build an 18-story apartment building on that site. Vornado may still be able to build at 220 Central Park West if Barnett continues to rebuff the company's buyout efforts, but that would make it a much more expensive project, sources said. Barnett, who has operated the garage for the past few years, has about six years left on his lease. In December, Vornado agreed to pay $40 million to buy out the remaining 26 rent-regulated tenants at the 124-unit building, which it acquired with the Clarett Group for $131 million in 2005. But Barnett, president of the increasingly powerful Extell Development, is the leaseholder on the parking garage below, and so far he's refusing to be bought out, according to the Wall Street Journal. Gary Barnett Developers Steven Roth and Gary Barnett are set to face off at 220 Central Park West, a 1950s-era apartment building that Roth's Vornado Realty Trust has been planning to demolish and replace with a 41-story, $400 million condominium tower for more than five years. Roth's latest 220 CPW headache: Gary Barnett The Yom Kippur War may look tame by comparison! The more affordable price makes them ideal for small or midsize businesses in industries like architecture and design, healthcare, or technology.A Knisett-style battle for control of this site is brewing between Barnett and Roth. Here, office asking rents often surpass $80 and even $90 per square foot, however, Class B assets like 57 West 57th Street command more affordable rents, hovering around $65-$70 per square foot. ![]() The Medical Arts Building at 57 West 57th Street is located in one of the most prestigious and coveted submarkets of Manhattan, in the heart of the Plaza District. How much is the rent price for office space at 57 West 57th Street? The ground floor is occupied by a Quality Italian restaurant. The building is also home to tenants in other industries, including Hunter, Capital One, and Verizon, as well as shared office provider Regus. Who is renting office space at 57 West 57th Street?ĥ7 West 57th Street remains a popular destination for healthcare businesses, housing various tenants in this industry, including the New York Center for Healing, Directions Physical Health, and Midtown Dental. Nearby transportation options include the N, R, Q, W, and F subway lines. The building is located close to Carnegie Hall, the Rodin Studios building, the Fine Arts Society, and the Museum of Modern Art. The Medical Arts Building benefits from an excellent location in the prestigious Plaza District of Midtown Manhattan, connecting tenants to a plethora of shopping, dining, and cultural destinations in the area. A unique feature of the building is a two-story Art Deco entrance, which has been carefully preserved and restored. The concept involves easy-to-move walls, doors, and wall-mounted furniture and workstations that allow the landlord to set up a pre-built office for a new tenant timely and efficiently.Īmenities at 57 West 57th Street include on-site security, a lobby attendant, passenger and freight elevators, 24/7 concierge service, and tenant-controlled HVAC systems. The 21-story property was acquired by current owner Colliers International in 2004, for a price tag of $25 million.Ĭolliers redesigned the property internally and incorporated a new type of office configuration dubbed Fast Office at 57 West 57th Street. The Medical Arts Building offers 170,000 square feet of Class B Plaza District office space, as well as roughly 15,000 square feet of retail space. 170 KSF of Class B Plaza District Office Space The neo-classical, brick-and-terracotta structure was renovated in 1988, and today houses modern office space fit for healthcare companies, startups, and any kind of office-using businesses. The building was developed to serve as an outpost for physicians, dentists, and other healthcare professionals, which is why it was dubbed the Medical Arts Building. ![]() It boasts a design by Warren & Wetmore, who were also responsible for the design of Grand Central Terminal, the Biltmore Hotel, and other New York City landmarks. ![]() The office building located at 57 West 57th Street in the heart of Midtown Manhattan was completed in 1928.
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