High-profile tenants take tower to 94% occupancy.

250 West 57th Street, a W&H Properties office building in the Columbus Circle district, has attained an occupancy rate of 94 percent, thanks to strong leasing activity during the second quarter of 2006, announces Barry Zeller, executive director, Cushman & Wakefield, the building's managing and leasing agent.

In this period, Zeller's team leased -more than 20,000 s/f to new and/or expanding tenants.

New tenants include Reis Cooper, a law firm specializing in real estate; Bayes Capital, a fund manager; and Christiansen Capital Advisors, which provides financial and economic analysis of the professional gambling and entertainment industry.

Among the existing tenants who expanded during the quarter is Paymentech L.P., a leading provider of transaction processing services that is partly owned by Bank One.

"Our occupancy rate is impressively high, but what is especially significant is the quality of our tenants," says Zeller.

"High-profile, creditworthy companies that once sought space in other areas are coming to 250 West 57th Street, thanks to a massive renovations effort and a change of management, both of which were initiated in 2003."

A $35 million capital improvement program is nearly concluded at 250 West 57Th Street. The renovations include new windows, elevator cabs, upgraded building systems, refurbished air-conditioned public corridors, and a renovated lobby and concierge desk.

The building also has a newly renovated entrance to the 59th Street subway station, which gives tenants access to eight lines. Stops for four bus lines are nearby.

Space availability at 250 West 57th Street ranges from 1,500 to 8,900 rentable square feet.

Some of these units are pre-built offices, with new ceilings, lighting, flooring, and highly efficient space layouts, which are ready for immediate occupancy.

Part of the W&H Properties portfolio, 250 West 57th Street is owned by Fisk Building Associates LLC, a partnership led by Peter L. Malkin.