"As an indication of the strength of the market, the former escalated rent, which had been at an average of $31 a square foot, increased to an approximate average of $50 a square foot during this lease period," said Driscoll. Among the building's more attractive features are its solid financial strength and its stability, having been under the same ownership for more than 40 years.
Located at 60 East 42nd Street, 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.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||prestigious New York office building leased to 55 tenants|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Jan 3, 2001|
|Previous Article:||Stanley Simon.|
|Next Article:||Raritan Plaza I.|