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$170 psf rents prove tower still has what it takes.


In the rarefied rar·e·fied also rar·i·fied  
adj.
1. Belonging to or reserved for a small select group; esoteric.

2. Elevated in character or style; lofty.


rarefied
Adjective

1.
 world of Manhattan's priciest office towers, it's not uncommon for landlords and brokers to chatter about just who among the elite ranks they believe don't really belong on the shortlist short·list also short-list  
n.
A list of preferable items or candidates that have been selected for final consideration, as in making an award or filling a position.

Noun 1.
 of addresses that can command top dollar.

Whether it's a product of egos, competitiveness, or an observation based on some aspect of actual superiority, landlords of trophy buildings and the brokers that rep them--even in times where there seems to be abundant demand for high end office space--don't seem too eager to share the prestigious niche their prized properties have carved out in a market rife rife  
adj. rif·er, rif·est
1. In widespread existence, practice, or use; increasingly prevalent.

2. Abundant or numerous.
 with quality space.

Perhaps that's why Carnegie Hall Tower Carnegie Hall Tower is a 60-story skyscraper located on 57th Street in New York City. Part of a cluster of three very tall buildings (along with CitySpire Center and Metropolitan Tower), the tower was built in an architectural style in harmony with its neighbor Carnegie Hall, a  has been under the microscope in recent months, as some spectators have begun to question whether a new development across the street from the striking high rise will impact its views of Central Park along with its cache among deep-pocketed tenants.

Real estate developer Gary Barnett
This article refers to the college football coach. For Gary Barnett, the President of Extell Development, see Gary Barnett (developer)
Gary Barnett (born May 23, 1946 in Lakeland, FL) is a college football head coach.
 has assembled a collection of properties across 57th Street from Carnegie Hall Carnegie Hall

Concert hall in New York, N.Y., U.S. It was endowed by the industrialist Andrew Carnegie at the insistence of the conductor Walter Damrosch (1862–1950).
, which is a next door to the tower, where he plans to build a mixed-use property that could be up to 50-stories high, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 published reports.

The 60-story tower's top floors would likely remain unaffected, but the sweeping vistas that tenants now enjoy in the mid rise could eventually be obstructed ob·struct  
tr.v. ob·struct·ed, ob·struct·ing, ob·structs
1. To block or fill (a passage) with obstacles or an obstacle. See Synonyms at block.

2.
.

Views, especially those of the park, are a rent roll's best friend because they often carry hefty premiums and are a major attraction to the type of upper crust tenants that Carnegie Hall Tower has so successfully wooed since it was built in 1991.

But a source familiar with leasing in the building fired back, revealing that Carnegie Hall Tower is close to a pair of high-priced deals that will dispel questions over just where the tower will continue to rank amongst its ultra-prestigious peers. In one of the possible transactions, a tenant is said to be in talks to take two floors, for rents as high as $170 per s/f.

Such a deal would be notable not only because it would carry the highest rents ever paid for office space in Manhattan, but also because it would be for floors likely to be affected by the construction across the street and would signify that Barnett's development will have little impact on the tower's rents.

"This is Manhattan and views change all the time for a lot of buildings and it doesn't mean that they're any less desirable," said the source, who didn't want to be quoted for fear of disrupting the negotiations.

"There may be a new building on the skyline, but the building will still be able to have unique views of the park," the source added.
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Comment:$170 psf rents prove tower still has what it takes.
Author:Geiger, Daniel
Publication:Real Estate Weekly
Date:Jun 6, 2007
Words:448
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