Office tower with tree-filled public space struggles to retain private tenants

The IBM Building at 590 Madison Ave. has one of the finest amenities in the city: A 8,200 square-foot park-like atrium with a 65-foot high glass ceiling, with dozens of chairs and tables available to everyone.  “A tree-filled conservatory and public living room rolled into one,” is how the space was described in Privately Owned Public Space: The New York City Experience, a book written in 2000 by the Department of City Planning, the Municipal Art Society, and urban planner Jerold Kayden.But it seems peerless public space has only so much allure among the tenants upstairs. IBM has cut its footprint by more than half, to 50,000 square feet, because it has been transferring staff from its namesake building to a new office two miles south at 1 Madison Ave. Morgan Stanley has moved out of 50,000 square feet at 590 Madison, and law firm Crowell & Moring, which had 100,000 square feet, relocated to 2 Manhattan West when its lease expired earlier this year.  As of June, the 42-story, 1 million square-foot Class A tower at the corner of East 57th Street was 77% leased, according to a report last week from bond-rating firm KBRA, which rates its $650 million mortgage “underperform.” The building matches the area’s office vacancy rate of about 23%, according to Cushman & Wakefield, indicating 590 Madison isn’t all that different from nearby office towers that are relatively distant from both Grand Central Terminal and Penn Station. 590 Madison’s owner, the State Teachers... Continue reading at 'Crains New York'

[ Crains New York | 2024-11-27 18:07:17 UTC ]

Other news stories related to: "Office tower with tree-filled public space struggles to retain private tenants"


2016 National Book Awards for Young People Literature in Photos

On Wednesday evening, November 16, five finalists for the Young People's Literature prize headed to Cipriani Wall Street in lower Manhattan for the 67th National Book Awards. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-11-17 00:00:00 UTC ]
More news stories like this


'March,' Borzutzky, Kendi, and Whitehead Win 2016 National Book Awards

At the 67th National Book Awards, held at Cipriani New York in Lower Manhattan on Wednesday night, the junction where politics and publishing meet was in the spotlight from the start. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-11-16 00:00:00 UTC ]
More news stories like this


Rep. Duncan Hunter pushes Coast Guard to procure a ship it doesn't want - owned by a top campaign donor

Rep. Duncan Hunter (R-Alpine) has been pushing the U.S. Coast Guard to buy or lease a polar ice-breaking ship owned by one of his top campaign contributors, although officials repeatedly have said the vessel doesn’t meet the service’s needs. The ship in question, the Aiviq, is a privately owned,... Continue reading at Los Angeles Times

[ Los Angeles Times | 2016-10-13 00:00:00 UTC ]
More news stories like this


Poetry on proposed third Heathrow runway to Nine Arches

Independent poetry publisher Nine Arches Press is to publish Heath, a new book written in collaboration between poets Penelope Shuttle and John Greening. Continue reading at The Bookseller

[ The Bookseller | 2016-07-02 00:00:00 UTC ]
More news stories like this


UFO Sightings Inspired These Eerie Photos

When Maria Lax discovered a book written by her grandfather about UFO sightings in her hometown, she knew she had to learn more. The post UFO Sightings Inspired These Eerie Photos appeared first on WIRED. Continue reading at Wired

[ Wired | 2015-10-29 00:00:00 UTC ]
More news stories like this


The Desmond Elliott prize reminds us that authors need long-term support

With her prizewinning debut, Claire Fuller could be following in the footsteps of Ian Rankin and Hilary Mantel who found success with their later work – but only with the support of her publisherAs one of the judges for the Desmond Elliott prize for best debut novelist this year, I couldn’t help... Continue reading at The Guardian

[ The Guardian | 2015-07-03 00:00:00 UTC ]
More news stories like this


Dalai Lama and Desmond Tutu collaborate on Book of Joy

The two ‘spiritual brothers’ are to publish a series of dialogues on finding ‘real inner joyfulness’Shakespeare had it that “joy’s soul lies in the doing”, Mark Twain that “to get the full value of a joy you must have somebody to divide it with”. Now two unlikely literary collaborators, the... Continue reading at The Guardian

[ The Guardian | 2015-04-15 00:00:00 UTC ]
More news stories like this


'Guantánamo Diary,' written by an inmate, reveals inside look at infamous prison

Mohamedou Ould Slahi’s personal diary, which was published Tuesday by Little, Brown, is being billed as the first book written by a Guantánamo detainee. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-01-23 00:00:00 UTC ]
More news stories like this


2014 National Book Awards Go to Woodson, Glück, Osnos, Klay

The 2014 National Book Awards were presented Wednesday evening at a ceremony at Cipriani Wall Street in Lower Manhattan. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-11-19 00:00:00 UTC ]
More news stories like this


Yahoo Shuttering Livestand iPad App

With bikini season approaching, Yahoo’s all about trimming the fat. Last month the company announced that it would lay off 2,000 employees as part of then-CEO Scott Thompson’s plan to create a “smaller, nimbler, more profitable” company. Now the company has opted to close its digital magazine... Continue reading at AdWeek

[ AdWeek | 2012-05-26 00:00:00 UTC ]
More news stories like this


Ebury buys Michelle Obama cookbook

Ebury Press has acquired a book written by the First Lady of the United States, Michelle Obama,... Continue reading at The Bookseller

[ The Bookseller | 2012-05-02 00:00:00 UTC ]
More news stories like this


MP Lammy to examine London riots for Cornerstone

Written By: Charlotte Williams Publication Date: Mon, 03/10/2011 - 17:16 Cornerstone has acquired a book written by Tottenham MP David Lammy about the 2011 riots. Guardian Books acting publisher Katie Roden acquired world rights in Out of the Ashes: Britain After the Riots by Lammy through... Continue reading at The Bookseller

[ The Bookseller | 2011-10-03 00:00:00 UTC ]
More news stories like this


Richard and Judy launches kids books club

Written By: Lisa Campbell A children's book written by Jo Nesbo is among the choices in Richard and Judy’s Children’s Book Club, which launched in W H Smith today [27th January]. The husband-and wife television presenting team are working alongside the charity Booktrust, to encourage more... Continue reading at The Bookseller

[ The Bookseller | 2011-01-27 00:00:00 UTC ]
More news stories like this