Cultural council takes space at Maiden Lane.New York-based Time Equities recently brokered a 11,243 s/f lease at 125 Maiden Lane, which it also owns, for the Lower Manhattan Cultural Council (LMCC LMCC Lower Manhattan Cultural Council LMCC Land Mobile Communications Council LMCC Lake Macquarie City Council (Australia) LMCC Licentiate of the Medical Council of Canada LMCC Lead Manager Customer Central ), a non-profit organization dedicated to the arts and culture in downtown 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. , promoting cultural events and promoting the arts through grants, services, advocacy and cultural development programs. Although terms of the lease were undisclosed, asking rents in the building were $27 per square foot. However, Time Equities, whose CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Francis Greenburger maintains an avid following of the arts, leased the space to the tenant for substantially less. Michael Rudder of Time Equities represented the landlord in the deal. Adam Foster of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. represented the tenant. The LMCC will dedicate part of the building to LMCC offices and volunteers, who will establish a center for events and exhibits. Part of the building will be used for an art gallery, with rotating exhibits, sponsored by Time Equities and Art Omi, a residency program in upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. for international visual artists, writers and musicians, which Greenburger also chairs. Another part of the building will be dedicated to "swing space," free studio space for area artists. "Time Equities has maintained a wonderful relationship with the arts community for many years and this transaction highlights that relationship," Rudder said. |
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