A boutique office building at 505 Fifth Avenue

[Fabrizio]

If it can´t be a masterpiece....this is the way to go: timeless good taste; finely detailed; good build quality; nice flat genuinely clear glass; vertical window shape. Fits in perfectly with it´s formal limestone neighbors.

But why does one office have white shades, while the rest have green? That looks sloppy.

[ablarc]

^ That's the southwest corner, where the sun barrels in with particular ferocity and provides way more than the usual amount of direct rays six or more hours of the day. It wouldn't surprise me if that wasn't even shades, but some kind of contact paper applied directly to the glass to escape the sun's fury.

[MidtownGuy]

Hard to tell in the picture, but all of the office furniture is a consistent brown color that can be clearly seen through the glass and makes an interesting green/brown color story.

[jeffpark]

what's with the retail space as before our freinds at the -NY POST- reprted that C&W is marketing the space and not RKF any new news,
by the way who is larger IN RETAIL RKF. CBRE(TROCK). C&W(BRAD)

[jeffpark]

http://www.505fifth.com/home/pdf/stackingplan.pdf

[MidtownGuy]

I love the lobby. Check out this pic, taken this afternoon:

http://static.flickr.com/56/153775641_a575f342d5_b.jpg

[ablarc]

^ Primaries.

[antinimby]

^ Huh?

[antinimby]

I love the lobby. Check out this pic, taken this afternoon:Nice. So much better than that empty lot/flea market, wouldn't you say?
Can't wait for the retail to open.

[MidtownGuy]

^ Huh?

red, yellow, blue

[antinimby]

Oh, I see.
Gettin' kinda slow these days, you know?

[MidtownGuy]

;)

[Scruffy88]

some more pics including night shots of the "club" like lobby.

http://i25.photobucket.com/albums/c81/Scruffy88/505-2.jpg

http://i25.photobucket.com/albums/c81/Scruffy88/505-3.jpg

http://i25.photobucket.com/albums/c81/Scruffy88/505-4.jpg

http://i25.photobucket.com/albums/c81/Scruffy88/505-5.jpg

[jeffpark]

is there any more space left?

[pianoman11686]

Last I heard, all the office space was taken, and retail was still up for grabs.

[jeffpark]

the site http://www.505fifth.com/home/
Floors 15 thru 20. and Floor 28. are still for rent
do you know waht they are asking $85 $95 ?

and what did CIT pay per SF

[kliq6]

Jeff most if not all of the posts you make are asking specific questions that are confidential between broker, client and building owner. If they want that info released the would release it as some deals are, others are not, Thats the way it is.

[Fabrizio]

Is the entrance lobby always lit like that? It´s squalid looking. Surprising given the rest of the building´s fine style.

[ablarc]

Is the entrance lobby always lit like that? It´s squalid looking.
squal•id adj

1. Dirty and wretched, as from poverty or lack of care. See Synonyms at dirty.
2. Morally repulsive; sordid: “the squalid atmosphere of intrigue, betrayal, and counterbetrayal”.

Is that by definition 1 or 2?

[Fabrizio]

Sometimes things get lost in translation:

squallido:

adj. wretched, bleak, squalid, dingy, shabby, seamy, sleazy, dreary, dismal

#7 : sleazy

[jeffpark]

H&M INKS LEASE
FOR 42ND & FIFTH

NY POST

July 18, 2006 -- IT'S taken more than 20 years, but the northeast corner of Fifth Avenue and 42nd Street is finally getting a retail presence worthy of the city's most famous shopping boulevard.

Youth-oriented Swedish sportswear chain H&M just signed a lease for 25,000 square feet at 505 Fifth Ave., the gleaming new boutique office tower developed on spec by Dr. Axel Stawski. The three-level store, H&M's tenth in Manhattan, will open by next spring.
H&M was represented by CB Richard Ellis' Robert Gibson and Jedd Nero and Stawski by Robert K. Futterman.
Most of the project's 300,000 square feet of office space have been leased to CIT, but Fifth Avenue is most famed as a shopping street - and the retail site had been frustratingly under-used or totally derelict since at least the 1980s.
For as long as anyone could remember, the seemingly jinxed northeast corner of 42nd and Fifth seemed like a black hole into which the avenue's numerous junk stores and cheap delis south of Saks seemed to drain. A Japanese landlord bulldozed several historic, low-rise buildings on the site in the early 1990s and left it a vacant lot for several years.
A ramshackle flea market popped up, cheapening the prominent corner across from the New York Public Library. The property changed hands several times, but remained a mess until Stawski bought it from LCOR and Lehman Bros. in 2002 and redeveloped the location in time to catch the current leasing boom.
But the H&M deal was a long time in coming. Futterman said there was a deal with "another possible tenant, which didn't happen" but took the space off the market for months. Futterman wouldn't say who, but marketplace sources said it was the government of Thailand, which considered opening a "Takashimaya-like" store to showcase national products.
After the negotiation went nowhere, H&M made "a strategic move" to showcase its brand at a Fifth Avenue location in addition to the one they have at 640 Fifth (51st Street), Futterman said.
"They were interested for about a year, but deals take a long time in New York now, and this landlord is very particular about the type of tenant he wants."
CBRE's Gibson agreed, "Axel hit the market perfectly." He cited recent improvements to the Fifth Avenue retail scene below 49th Street, including the arrivals of American Girl Place, Build-a-Bear and the big new Barnes & Noble.
Neither Futterman nor Gibson would discuss terms, citing confidentiality agreements. But Lansco retail honcho Alan Victor, who was not involved in the H&M lease, said the asking rent was $350 per square foot for the ground floor, $175 for the second floor and $75 for the basement. The deal "is definitely going to give a shot in the arm" to the store market between 42nd and 49th streets, Victor said.

[pianoman11686]

http://images1.snapfish.com/34769%3C66%3A%7Ffp33%3B%3Enu%3D3247%3E4%3A5%3E9%3A %3B%3EWSNRCG%3D323397853349%3Anu0mrj

[Citytect]

Looks like a good portion in the middle is empty.

[lofter1]

The mis-matched window shades don't help it a bit.

[finnman69]

The mis-matched window shades don't help it a bit.
Window shades.

Mies got it right at Seagram. Mies used blinds that only worked in three positions - fully open, halfway open/closed, or fully closed.

[pianoman11686]

Has anyone ever noticed this:

http://images1.snapfish.com/347736%3A3%3A%7Ffp356%3Enu%3D3247%3E4%3A5%3E9%3A%3 B%3EWSNRCG%3D323399%3C673479nu0mrj


It's not a blank wall in the most basic sense, because it is covered with some kind of panels. Still, I don't see why they didn't continue the glass around the whole building.

[Derek2k3]

http://static.flickr.com/92/208717089_3ae214c28c_o.jpg
Same tired pic of a tired building.
8/6/06

[kz1000ps]

That's one of the better pics out there of this building, but it's sad to say that as an architectural piece it utterly fails. Yes, it brought CIT Group back here into NY, but that dirty sea green glass flat out sucks. Were it anything close to how it looked in the renderings it'd be completely innocuous, but instead we're stuck with a "cornerpiece" that leaves one corner of a very important square devoid of what it needs. Very disappointing..

[Fabrizio]

Agreed. 505 really interrupts 5th from this side few. The glass front is a nice contrast....it's well tailored, I think very nicely done....but it looks like they gave up when it came to the side. Another view marred.

(The Marriot not too far away, has been so critized ....it might not be very attactive from up close, and that ground floor is just horrible ...but look on the Marriot thread to see how it fits in seamlessly with it's old neighbors in the photos. You've got to give it some points for that.)
http://images1.snapfish.com/347736%3A3%3A%7Ffp356%3Enu%3D3247%3E4%3A5%3E9%3A%3 B%3EWSNRCG%3D323399%3C673479nu0mrj

[Citytect]

Did they replace some of the white window shades? There seems to be mostly green ones now.

[jeffpark]

Looks like a good portion in the middle is empty.


Yes, the Dr Still has floors 15 thru 20 available for lease it comes out to about 50,000 RSF,
And I think he is asking around $90. a foot.

[jeffpark]

This is a question for Office Brokers

(1)
What type of commission does the Landlords agent gets, let’s say for example on a 10 year office lease.?

(2) And for that same deal/lease what type off commission does the TENATS broker get. ?

[jeffpark]

According to Julie at Crain’s New York
the Dr, has leased more office space at 505 Fifth Ave.
The tenant is Peter Yu’s (he was formerly with AIG Capital Partners) new private equity firm “Cartesian Capital” taking 6,700 s.f. at the new Tower for $85 a foot
Cartesian Capital was represented by John Maher of CBRE.

So this is the 6th Tenant at 505 Fifth Avenue.

CIT 130,000
American Capital Strategies 38,000 s/f
Fir Tree Partners.
Lifeco Investments.
Reserve Bank of Australia.

[londonlawyer]

I am eager for Stawski to build something new at 579 Fifth and the adjoining, filthy building located at 581. They are disgusting eyesores, and he has the reputation for cleaning up dumps. This is potentially very valuable space, and yet it's underutilized. I assume that the schmuck that owns 581 won't sell to Stawski.

[jeffpark]

the problem is that 581 Fifth is owned by the Family of the late Sol GOLDMAN
and we know how hard it will be,
maybe the Dr should bring Barnett in the deal becouse he has done a lot of deals with them.

[londonlawyer]

the problem is that 581 Fifth is owned by the Family of the late Sol GOLDMAN
and we know how hard it will be,
maybe the Dr should bring Barnett in the deal becouse he has done a lot of deals with them.

Gershon has done deals with Sol Goldman? I bet that Gershon would love to develop the site on 5th, but I doubt that Stawski would give up such a prime spot. As you suggest, they should do a joint venture. That spot could hold a very high-end boutique office building or a very upscale hotel, like a Shangri-La.

[jeffpark]

they would need also to get 485 Fifth

[pianoman11686]

^Very unlikely, given that building just went through a hefty renovation/conversion to condos.

[londonlawyer]

they would need also to get 485 Fifth

I think that 485 5th is really nice.

[jeffpark]

they would need also to get 485 Fifth
sorry mistake i meant to say 585 not
485

[jeffpark]

The tenant that has leased the penthouse floor (28th floor) at 505 Fifth Ave,
From the Dr,
Is now itself subleasing the entire floor through CBRE.

[lofter1]

This new building now shows signage up in all the street-level windows for H&M

[stache]

They're taking over the planet.

[jeffpark]

there are still 4 full floor available for lease at this building 17 through 20
at 11,000 sf each floor.

[antinimby]

I'll take a couple of those, thank you.

[kliq6]

this one got done right in time, with Hedge funds crashing, dont think many small "boutique" towers will be built next year

[jeffpark]

this one got done right in time, with Hedge funds crashing, dont think many small "boutique" towers will be built next year

is that why


NY POST
October 24, 2006 --
"BIG doings on 42nd Street: Mawan Dalloul's American Properties sold the spectacularly situated empty lot at 140 W. 42nd St. for $76 million to Dubai-based Istithmar, which plans to build a hotel/condo. Istithmar also owns 6 Times Square, the former Knickerbocker Hotel, next door"

[kliq6]

Not on that job, American Properties is just a clueless firm that owns one building in NY and has no idea what development would entail, so they backed out

[lofter1]

The POS to the east of Bush Tower has had the auction date changed to November ...

[Jaffster]

Wrong thread.

[lofter1]

It's connected to the posts directly above ... :cool:

[Jaffster]

Is there any reason why the scaffolding around 1095 extends to the ugly brown thing if it is not owned by them?

[kliq6]

Equity has to "protect it" you see this alot with developments

[lofter1]

Since y'all asked for it, the H&M signage (who's that girl?) ...

***

[lofter1]

Another shot of 505, reflecting 500 5th Avenue ...

***

[antinimby]

^ Don't think that's the Lincoln Building's reflection though.

Since y'all asked for it, the H&M signage (who's that girl?) ...Madonna?

[lofter1]

Thanks, I fixed that :o

[lofter1]

google it ^^^ (but be careful)

[lofter1]

but now my post doesn't make any sense. :D

That's what the "edit" button is for ;)

[lofter1]

...anyone seen photos of Madonna lately? She is a true MILF. It's amazing how good her bod looks for a woman in her mid-40's.

H&M Signs Madonna

http://www.adweek.com/adweek/photos/2006/06/08_N_News_Madonna_L.jpg
H&M will supply an off-stage wardrobe
for the star and her touring troupe. http://www.adweek.com/aw/images/spacer.gif

adweek (http://www.adweek.com/aw/national/article_display.jsp?vnu_content_id=1002650608)
By Sandra O'Loughlin
Brandweek
June 08, 2006

NEW YORK The Material Girl is going to try on some new material when she slips into clothes from H&M as the face of the fall campaign for the Swedish retailer.

The global campaign, created in-house, will launch in August and run through the fall in magazines and on outdoor billboards.

The client spent $10 million in domestic measured media last year, per TNS Media Intelligence.

The pop star is in the middle of a much-hyped U.S. tour.

H&M will supply a complete off-stage wardrobe for the star and her touring troupe, including her band, dancers and stage crew. Designer Jean-Paul Gaultier will dress her while she is on stage. In addition, H&M is designing a Madonna tracksuit that will be available in stores in August.

"Madonna picked out people she works with all the time to be in the campaign with her to show the diversity and personal styles that anyone can dress in H&M," said representative Jennifer Ugliaro.

The retailer also will launch in October a separate campaign for its newest designer collaboration, Victor & Rolf.

© 2005 VNU eMedia Inc. All rights reserved.

***

Madonna's H&M Tracksuit

http://www.tmz.com/media/2006/07/madonna_whtjac_0706_228.jpg

http://www.tmz.com/2006/07/06/madonnas-handm-tracksuit/

***

http://www.ultimatemadonna.com/tribeapose/albums/madonna_live/confessionstour/paris/normal_liza_heider_14.jpg (http://javascript<b></b>:;)

http://www.ultimatemadonna.com/tribeapose/albums/madonna_live/confessionstour/paris/normal_liza_heider_28.jpg (http://javascript<b></b>:;)

http://www.ultimatemadonna.com/tribeapose/index.php

[londonlawyer]

google it ^^^ (but be careful)

Yeah... Don't google it at work.

[jeffpark]

guys this a real estate four & not a p site

[antinimby]

guys this a real estate four & not a p siteLoosen up a bit jeff, and take off that bow-tie, will ya. :D

[lofter1]

Now that the building is done we're into the marketing phase.

In this day and age marketing is a close cousin to porn.

[londonlawyer]

Loosen up a bit jeff, and take off that bow-tie, will ya. :D

Good one!:cool:

[pianoman11686]

Now that the building is done we're into the marketing phase.

In this day and age marketing is a close cousin to porn.

That's one of the better pictures I've seen of this building. As for marketing: trust me, the US is still fairly tame in comparison to other parts of the world. You wouldn't expect it, but in Vienna, there are full-frontal nude models advertising everything from vodka to cologne.

[Stern]

guys this a real estate four & not a p site

Thank you Jeff. There are plenty of places to discuss sex and Madonna, they are free and easy to find. The "A boutique office building at 505 Fifth Avenue" thread isn't one of them.

[lofter1]

But their commercial tenant put her picture all over the front of their building :cool:

It's not like we made this up ...

[Stern]

But their commercial tenant put her picture all over the front of their building :cool:

It's not like we made this up ...

Discuss the advertisement then. Not what you want or don't want to sexually do to Madonna.

[antinimby]

So, does anyone know if the H&M at 505 will sell hand cream? :D

Bad, antinimby, bad. :slaps face:

[Stern]

So, does anyone know if the H&M at 505 will sell hand cream? :D

Bad, antinimby, bad. :slaps face:

Ahem.

[lofter1]

Warm, luscious summer makeup at H&M

http://www.hm.com/it/__prfashion.nhtml?pressreleaseid=691

The summer skincare line includes shower gel, body scrub and body lotion with tropical fragrances.

There are also complementary products created especially for feet, comprising ... toe separators ... and foot lotion.

[stache]

*Thinks of naughty things 'H&M' could mean...*

[Derek2k3]

http://www.pbase.com/image/25228652/large.jpg
This would've been great. The built building is too small and underwhelming for such a corner. The lobby is cool though.

http://farm1.static.flickr.com/151/346164343_fb3aecb218_b.jpg

http://farm1.static.flickr.com/134/346164340_fa55bd273a_b.jpg

http://farm1.static.flickr.com/130/346164335_198f0637a4_o.jpg

http://farm1.static.flickr.com/138/346158180_93c4c36ed4_o.jpg

http://farm1.static.flickr.com/130/346158181_56c738fccc_o.jpg

http://farm1.static.flickr.com/132/346164338_e456ca8c1a_o.jpg

http://farm1.static.flickr.com/150/346158185_c69d3ffaaf_o.jpg

http://farm1.static.flickr.com/143/346164337_9aecebce1c_o.jpg

http://farm1.static.flickr.com/146/346158182_ce3b4ace91_o.jpg

[antinimby]

You are the best, Derek.

Documenting the building from every conceivable angle perfectly.

[Derek2k3]

Thanks. If it wasn't for you I wouldn't have even brought my camera.

[ramvid01]

Is it just me, or that H&M is taking a while to open up (not that I really care).

[stache]

I'm guessing they're backed up because the company is expanding so quickly.

[lofter1]

Signs for H&M first went up at the end of October, so build-out is just about 2-months along ...

Down SoHo way it seems that build-outs for new retail spaces take anywhere from 3 - 6 months.

One somewhat comparable example: At 40 Mercer the buildout for a new Wachovia Bank branch was announced by signs in the windows towards the end of October (http://www.wirednewyork.com/forum/showpost.php?p=127103&postcount=97) as well, and that construction is on-going.

Any insiders want to chime in on what the standard is (considering all the variables, including those of old buildings v. new buildings)?

[BrooklynRider]

Perhaps 505 could be considered underwhelming for that particular corner, but as a singular building I like the design and its addition to Fifth Avenue. (It sure beats the crappy bazaar.)

[antinimby]

The grand opening (as covered by racked.com (http://racked.com/archives/2007/09/27/with_much_fanfare_another_hm_o.php))...

With Much Fanfare, Another H&M Opens
Thursday, September 27, 2007


http://racked.com/uploads/2007_09_midtownhandmopening.jpg

If you forgot to mark it on your calendar, let us remind you: today is H&M Midtown East's opening day! A reader emailed us a few photos of the madness at the chain's newest NYC store on 42nd Street and Fifth Ave along with this note: "There’s been a line out-the-door and around-the-corner to get in all day! Here are some shots I took on my lunch break." Wow, it's like these people have never seen a poly-blend before.

http://racked.com/uploads/2007_09_hanmredcarpet.jpg