Consolidates NYC Offices onto One Full Floor
NEW YORK CITY, NY – March 9, 2012 – (RealEstateRama) — Perseus Books Group has consolidated its operations in New York City into a single property: 250 West 57th Street, where it has expanded its occupancy from 6,800 square feet to the entire 15th floor of 26,104 square feet, announces Anthony Malkin, president of Malkin Holdings LLC, which supervises W&H Properties.
Perseus has been a tenant on the 13th floor in the building since 2004. It will take possession of its new space in July.
“Perseus’s and our consolidation plans fit perfectly,” notes Mr. Malkin. “While this is only the second full-floor tenant at 250 West 57th Street, and I do not see many more in the near future, we have reduced our reliance on the hundreds of smaller businesses who used to comprise our tenancy. Our top-to-bottom upgrade allows us to offer larger spaces, and this attracts larger, better-credit tenants to our ‘steps from everything’ Columbus Circle location. The transaction with Perseus is a reflection of the program’s success.
“It’s not only the building that has changed,” he continues. “The Columbus Circle submarket has been completely transformed in recent years, attracting new tenants such as Y&R and Soros’s Open Society Institute. We are steps from Time Warner, Central Park, restaurants, retail and mass transportation. 250 West 57th Street is a Pre-War Trophy and a premier destination for discerning office tenants seeking space in the area.”
The Perseus Books Group is an independent company committed to enabling independent publishers to reach their potential whether those publishers are Perseus-owned, joint ventures or owned by third parties.
Member publishing programs include Avalon Travel, Basic Books, Basic Civitas, Da Capo, Lifelong Books, Running Press, Seal Press, Vanguard Press and Westview Press, as well as partnerships with PublicAffairs and Nation Books, and joint ventures with Weinstein Books and The Daily Beast. Through Consortium, Perseus Distribution and Publishers Group West, the Perseus Books Group is also the leading provider of sales, marketing and distribution services to independent publishers.
David Hollander and Colin Meagher of CBRE represented Perseus in the lease negotiations. Harry Blair, Sean Kearns and Mitchell Arkin of Cushman & Wakefield represented the landlord.
Located along the convenient 57th Street corridor, and just steps from the Time Warner Center, Carnegie Hall, Lincoln Center, and Central Park, 250 West 57th Street comprises 26 stories and 535,000 square feet of modern office space. It offers direct in-building access to the Time Warner Center/Columbus Circle subway station, serving the A, C, B, D and 1 subway lines, and immediate access to all major bus lines.
The property’s recently completed $82 million upgrade program includes a renovated lobby, renovated elevator cabs, new windows, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of the W&H Properties’ Pre-War Trophy office portfolio, 250 West 57th Street is supervised by Malkin Holdings LLC, one of New York City’s most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.
Available space includes W&H portfolio high-end pre-built suites from 2,500 to 7,000 square feet and build-to-suit spaces up to 10,600 square feet.
Broker commissions are paid in full at lease signing.
From: W&H PROPERTIES
Contact: David M. Grant, LVM Group Inc.
(212) 499-6565; David (at) lvmgroup (dot) com
