Comptroller mulls move to 95 Wall.The Office of the Comptroller of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. is contemplating a move to the slim, black office tower at 95 Wall Street. But with comptroller William C. Thompson beginning to focus on his expected run for Mayor in 2009, negotiations for the space have been slow to progress, even though the city's leasing honcho Honcho A slang term describing the leader or person in charge of an organization. Notes: The CEO of a company could be referred to as the honcho or "head honcho." See also: CEO, CFO, COO, Insider, Leprechaun Leader , Jeff Kondrat, is said to want the office out of its current home in the Municipal Building. Also working to stymie sty·mie also sty·my tr.v. sty·mied , sty·mie·ing also sty·my·ing , sty·mies To thwart; stump: a problem in thermodynamics that stymied half the class. n. 1. a deal is that the Comptroller appears to be caught in a classic trap of the rising real estate market. It has delayed a deal by balking balking, baulking see jibbing. at the building's rents, which are said to be in the $50s per s/f, only to find that by the time it resigns itself to paying them, the tightening market has squeezed rates even higher and reset its price objections. The Office of the Comptroller was on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of taking a 220,000 s/f sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. from Wachovia at 199 Water Street in July 2006, but stepped aside when the massive insurance brokerage, Aon Corporation, wanted the space for its own operations. Rumors filled the market after the comptroller was bumped from that deal that it would take its 250,000 s/f space requirement to 100 Church Street instead--one of the last buildings downtown with a massive block of available space--but a deal never got done. Owned by real estate magnate Joseph Moinian, 95 Wall Street was slated for a residential conversion when it almost wooed a group of government tenants in recent months whose 460,000 s/f lease at 60 Broad Street was set to expire. Those tenants, the Office of Court Administration, the Division of Housing and Community Renewal, and the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Department of Insurance, wound up agreeing to a 10-year renewal with the option to terminate their lease after 5-years to potentially relocate to the Freedom Tower. 95 Wall Street's residential plans were seemingly back on, but sources say that with the rising real estate market Downtown, Moinian has now put the conversion back on hold to see a deal with the comptroller or another large office tenant can get done instead. |
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