Lincoln building signs 220,000 SF in leases.The Lincoln Building The Lincoln Building is an office building located on 60 East 42nd Street in New York City, opposite Grand Central Terminal. It was completed in 1930. The architect was James Edwin Ruthvin Carpenter. It is 673 feet (205 meters) tall with 53 stories and built in neo-gothic style. enjoyed a remarkably successful year in 2001, leasing approximately 220,000 SF for an aggregate rent of more than $61 million, bringing the occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) to 96%, 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. Kevin Driscoll, the building's, general manager. Roughly 122,000 SF was leased to 79 renewal tenants in 2001 and almost 100,000 SF was leased out to 52 new tenants. Driscoll says that 2002 will continue to show strength, partly due to the continued revitalization of the Grand Central district, and also because of the current $30 million renovation of the Lincoln Building. Driscoll also credits the brokerage community for the building's success, adding that brokers will continue to be paid 100% commission on lease signing. Two new amenities were completed this year - a conference center and a law library. Located in the Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. Arcade, just off the main lobby, the conference center seats 25 and features high-speed Internet See broadband. access, teleconferencing capabilities and audiovisual equipment for giving Power Point presentations. Adjacent to the conference center is a new and improved law library with more than 10,000 volumes and high-speed Internet access. The building has operated a law library for many years, but expanded and upgraded the facility this year as part of the improvement program. Among other improvements planned or under way are: new windows, new washrooms, a new HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free system and newer, faster elevator operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. . New elevator cabs with marble, interiors are being phased in. The new elevator cabs also feature video screens displaying building information stock quotes, weather reports and traffic updates. Newly refurbished public corridors with new carpet, ceiling tile, wall coverings, full-height entrance doors and improved signage are also under way. Located at 60 East 42nd St., the 55-story Lincoln Building is one of the most prestigious addresses in the Grand Central District, with direct underground access to Grand Central Terminal and several subway lines. "Among the building's more attractive features are its solid financial strength and its stability, the result of its having been under the same ownership for almost half a century," says Driscoll. |
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