Posted Apr 15, 2024, 7:48 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,948
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I remember Citadel planning to lease additional space at 280 Park, then that was put on hold. It’s becoming a little more clear why.
https://commercialobserver.com/2024/04/antares-capital-lease-280-park-avenue/
Private Equity Firm Antares Expands to 76K SF at 280 Park
BY LOIS WEISS
APRIL 15, 2024
Quote:
SL Green and Vornado spent $150 million renovating the 1.2 million-square-foot property, which they bought for close to $500 million in 2011.
The joint venture has had its ups and downs, and the two real estate investment trusts recently clashed over deciding whether to expand other tenants versus bringing in the larger Citadel.
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Quote:
Another large tenant in the property, Franklin Templeton Investments, will soon relocate and expand to 347,000 square feet at SL Green’s One Madison Avenue.
The venture also suffered a setback when the long-heralded relocation of the Four Seasons restaurant from Seagram Building to 280 Park ended up a bust as the eatery never got its mojo back.
Since then, the space has been occupied by the acclaimed Italian restaurant Fasano.
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