Senator's lease is about right.Clinton's office space priced at market rate Senator Hillary Clinton's 780 Third Ave. office space is located only two blocks north of Sen. Chuck Schumer's less spacious digs. But the fiscal gulf that separates the two buildings is vast, with the Clinton lease costing taxpayers twice as much as Schumer's. To be sure, Clinton rents out 5,650 SF versus Schumer's 3,934 SF. She also signed her lease at a different point in the market (read: higher) than did Schumer, who rented his space three years ago. But the difference in cost has caused yet another stir after Bill Clinton's 57th Street debacle. And Sen. Clinton's staff reportedly warned her not to lease out such an exorbitant office. A Daily News report pegged Senator Clinton's rent at $514,148 a year versus Schumer's $209,532 per annum Per annum Yearly. . That gives Sen. Clinton another dubious distinction -- the Senator with the priciest digs. But considering the location -- Manhattan, among most expensive markets in the nation -- is this really outrageous? One real estate source felt that the commotion was much ado about nothing Much Ado About Nothing is a comedy by William Shakespeare. First published in 1600, it was likely first performed in the winter of 1598-1599,[1] and it remains one of Shakespeare's most enduring plays on stage. . "There's no question that Schumer made the right choice renting at 757 Third Ave. But Hillary's space is right on the market, price-wise, let's say $65 a foot. That's the market right there," said Ted Rotante, corporate managing director of Julien J. Studley, Inc. 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. the building's website, space on the seventh floor is being marketed at $63 a SF. It was built in 1984 and is currently managed by the JRT JRT Jack Russell Terrier JRT Jumbo Roll Tissue (bathroom tissue) JRT Justin Randall Timberlake (member of NSYNC) JRT Joint Readiness Training JRT Jugoslovenska Radio-Televizija Realty Group. One real estate source pegged the building as "A-minus office space. "This building was going to be a trophy property," said the source, suggesting that it isn't. A building's cachet cachet /ca·chet/ (ka-sha´) a disk-shaped wafer or capsule enclosing a dose of medicine. ca·chet n. An edible wafer capsule used for enclosing an unpleasant-tasting drug. is dictated by tenants, in some cases, though Carnegie Hall Tower's recent brush with notoriety may or may not have forced rents to climb. On that front, a fund manager recently moved into the space that Bill Clinton balked balk v. balked, balk·ing, balks v.intr. 1. To stop short and refuse to go on: The horse balked at the jump. 2. on. The Jacobson Family Investment firm (JFI JFI Journal of Forensic Identification JFI Judicial Family Institute JFI Journal of the Franklin Institute JFI Joint Fires Initiative JFI Jet Flight Information JFI Jam Functionality Interface ) will lease out the 56th floor of the building -- the 8,300 SF space made famous by Citizen Clinton. The terms of their lease were not available. "I really doubt that they paid any more than Clinton would have," said Rotante on the space. A spokesman for Rockrose Development Corporation, which owns the building, would not comment on the JFI lease. |
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