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NY Resource Ctr in tenant talks.

The New York Resource Center, scheduled for the site of the former B. Altman's store on 34 Street, is well on its way to becoming a reality.

According to Project Director Daniel P. Weinreb, letters of intent aggregating 40,000 square feet have been signed and another 150,000 square feet is in negotiation with various contract furniture tenants. A special event will be run at the Resource Center in October in conjunction with Designer Saturday, the major industry confab.

The Science Industry and Business Library has signed its $23 million condo deal for 200,000 square feet of the space as well. The library will be situated from the basement through the seventh floor on the Madison Avenue, side and, Weinreb said, demolition work has begun in that portion to prepare if for renovation. A library spokesperson said the developers of the New York Resource Center will be providing it with $10 million in work, including asbestos removal.

The entire building comprises 650,000 square feet and the gut renovation will be getting an extra boost from both the Industrial Commercial Incentive Program and REAP program, which grants relocation credits for new tenants.
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Title Annotation:New York Resource Center engages in management of commercial space in New York, New York
Author:Weiss, Lois
Publication:Real Estate Weekly
Date:Aug 5, 1992
Previous Article:Lincoln Square: many unite for as-of-right project.
Next Article:Passive loss change nears.

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