Quote:
Originally Posted by JMKeynes
Also, if Rudin partners with Virnado, Rudin could give short-term extensions to Blackstone and KPMG at their current Rudin-owned location, 345 Park, until 350 Park is ready. The stars are aligned for 350!!
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Exactly right. I will be very surprised if this tower isn't selected. Being the current landlord always helps. The relationship is already there. But this is a good example of what I always say when current events are gloomy, and people begin to question if there will be a need for towers. Regardless of whatever is going on, lease expirations will still happen, and that's the driving force behind new towers. The vast majority will renew, but others simply cannot or will not. And in a market this large, that means the pipeline of new towers must always be ready. It's what happened with the Hudson Yards, and it's what's happening with Midtown East. Even the WTC is absorbing tenants much like the original complex.