|
NEW YORK CITY - Although Joe Torre will soon be out west working for the Los Angeles Dodgers, his foundation, Joe Torre's Safe at HomeŽ, will remain firmly entrenched in Manhattan, thanks to a recent lease transaction at The Lincoln Building at 60 East 42nd Street.
The foundation occupies space on the 18th floor, says John Sinon, director of leasing of Newmark Knight Frank, the property's managing and leasing agent. The lease term is three years.
"The Lincoln Building is a prestigious property with Class-A amenities and services," notes Mr. Sinon. "It's a good fit, therefore, for high-caliber organizations like Safe at Home."
Joe and Ali Torre established the foundation in 2002 with the mission of ending domestic violence and saving lives. In 2005, they opened its first school-based programming initiative, Margaret's Place, at Hostos-Lincoln Academy, Bronx, NY. Margaret's Place provides students with a safe room in school where they can meet with a professional counselor trained in domestic-violence intervention and prevention. Currently, the foundation has ten fully funded and operational Margaret's Places in New York City and Westchester County.
Mr. Sinon negotiated the lease on behalf of the landlord, along with Jonathan Fanuzzi of Newmark Knight Frank. Alex Cohen of Cushman & Wakefield represented the tenant.
The 55-story Lincoln Building is one of the most prestigious addresses in the Grand Central District. It offers direct underground access to Grand Central Terminal, as well as to the 4, 5, 6, 7 and Times Square shuttle subway lines.
The Lincoln Building's capital improvement program, totaling $85 million, includes new windows throughout the building; new washrooms; a new HVAC system; newer, faster elevators; new elevator cabs with marble interiors; and refurbished public corridors and bathrooms. The building also features a tenant conference center and a law library.
Part of the W&H Properties portfolio, The Lincoln Building is owned by Lincoln Building Associates, L.L.C., a partnership led by Peter L. Malkin. "The building has been under the same solid ownership for over half a century, which gives it the financial stability that is one of its most attractive features," says Mr. Sinon.
Available space at The Lincoln Building ranges from partial floors of 1,200 to 8,000 square feet to full floors of 11,845 to 47,589 square feet. Retail opportunities are available in the lobby arcade, with spaces ranging from 244 to 728 square feet.
Broker commissions are paid in full at lease signing.
|
