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Financial firm signs deal to pay $150 psf for digs at 9 W 57th.


Venture capital firm Highland Capital Partners' has made an entry into Manhattan fitting for a highflying high·fly·ing  
adj.
1. Rising to a great height.

2. Unusually extravagant, affected, or ambitious.

Adj. 1.
 financial firm.

The company, based out of Dallas, closed a deal last week for 12,000 s/f on the 38th floor at 9 West 57th West 57th can refer to:
  • West 57th Street, a street in New York City
  • West 57th (news magazine), a news magazine program which aired on the CBS Television Network from 1985 to 1989
 Street, space for which it paid $150 per s/f. According to sources, it is among the highest priced leases per s/ f completed so far this year.

While there are spaces within 9 West 57th Street where the asking rents are said to be greater, according to a source familiar with the building's rent roll, none yet have attracted deals. 9 West 57th Street, along with the GM Building and a handful of other buildings, is considered among a short-list short-list  
tr.v. short-list·ed, short-list·ing, short-lists
To include (a candidate for a job, for example) on a shortlist.
 of the city's most exclusive addresses and consequently routinely garners some of midtown's highest rents.

The product of a recently terminated lease with its previous tenant, an investment advisory firm called Clinton Group, the space never actually was put on the market.

Clinton Group consolidated its operations into other existing offices that the company has in the building, leaving 12,000 s/fs fully furnished and built out and available immediately for Highland's impending im·pend  
intr.v. im·pend·ed, im·pend·ing, im·pends
1. To be about to occur: Her retirement is impending.

2.
 occupancy.

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.  vice president Benjamin Friedland and senior associate Sacha Zarba represented Highland in the deal.

CBRE CBRE CB Richard Ellis (real-estate firm)
CBRE Chemical, Biological, Radiological and Explosive
CBRE Component-Based Reliability Estimation
CBRE Coldwell Banker Richard Ellis (Boston, MA) 
 senior vice president Peter Turchin represented the landlord, Sheldon Solow. None could be reached for comment.
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Article Details
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Author:Geiger, Daniel
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jul 26, 2006
Words:232
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