{"id":1004707628,"date":"2024-03-26T03:56:23","date_gmt":"2024-03-26T11:56:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004707628"},"modified":"2024-03-26T03:56:24","modified_gmt":"2024-03-26T11:56:24","slug":"tf-cornerstone-lands-new-lease-in-midtown-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tf-cornerstone-lands-new-lease-in-midtown-manhattan\/","title":{"rendered":"TF Cornerstone Lands New Lease in Midtown Manhattan"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0f3d6c6674b&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004707629\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tf-cornerstone-lands-new-lease-in-midtown-manhattan\/152-w-57th\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/152-W-57th-e1711378784673.jpeg\" data-orig-size=\"1365,1822\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"152 W 57th\" data-image-description=\"&lt;p&gt;Carnegie Hall Tower&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Carnegie Hall Tower. Image courtesy of Lee &#038; Associates&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/152-W-57th-e1711378784673.jpeg?w=767\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"300\" width=\"225\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/152-W-57th.jpeg?w=200\" alt=\"Carnegie Hall Tower\" class=\"wp-image-1004707629\" style=\"width:300px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Carnegie Hall Tower rises 60 stories and totals nearly 545,000 square feet.<em> Image courtesy of Lee &amp; Associates<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>TF Cornerstone has inked an 8,800-square-foot, 12-year lease at Carnegie Hall Tower, a Class A+ office tower in Manhattan\u2019s Plaza District. <\/p>\n\n\n\n<p>Lee &amp; Associates negotiated on behalf of the tenant, cosmetic company Pearl World Inc., that will relocate at the 542,584-square-foot high-rise. The company will occupy the entire 48th floor, using the new space as its office and showroom. Newmark represented the landlord.<\/p>\n\n\n\n<p>Originally built in 1989, Carnegie Hall Tower is a 60-story office high-rise at 152 W. 57th St. that features floor plates between 8,733 and 14,482 square feet, 10 passenger elevators and first-floor retail space, according to CommercialEdge. Current tenants at the property include The Pritzker Organization, Deer Finance, Palladium Capital Group, <a href=\"https:\/\/www.commercialsearch.com\/news\/industrious-to-open-new-location-at-carnegie-hall-tower\/\">Industrious<\/a>, Greystone Development and Arcadia Investment Partners, among others, the same source reveals.<\/p>\n\n\n\n<p>The Midtown Manhattan office building is close to Central Park, being 4 miles from Lower Manhattan, 7 miles from the Financial District, 11 miles from Brooklyn and within 17 miles of John F. Kennedy International Airport.<\/p>\n\n\n\n<p>Lee &amp; Associates\u2019 New York office\u2019s team of Executive Managing Directors and Principals Dennis Someck and Justin Myers worked on behalf of the tenant, while Newmark\u2019s Executive Managing Director Matt Leon represented TF Cornerstone. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-significant-midtown-leases-so-far-this-year\">Significant Midtown leases so far this year<\/h2>\n\n\n\n<p>Among the 25 largest office markets in the country, Manhattan remained on top when it comes to office asking rents as of February, a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/office-asset-values-dive-amid-challenges\/\">CommercialEdge report <\/a>shows. Averaging at $71.53 per square foot, the borough&#8217;s asking rate exceeded that of San Francisco&#8217;s $59.81 per square foot and The Bay Area&#8217;s $54.12 per square foot, despite a 460-basis-point decline since February 2023.<\/p>\n\n\n\n<p>Recently signed office deals in Midtown Manhattan include <a href=\"https:\/\/www.commercialsearch.com\/news\/paramount-lands-74-ksf-lease-in-manhattan\/\">Paramount Group&#8217;s 74,000-square-foot deal<\/a> at 1301 Avenue of the Americas. Citizens Bank is the newest tenant at the 1.7 million-square-foot office property. Another significant commitment was skincare and beauty brand Sol de Janeiro USA&#8217;s s <a href=\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\">57,203-square-foot, 11-year <\/a>lease at Empire State Realty Trust&#8217;s 1.3 million-square-foot One Grand Central Palace.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A cosmetic company is the newest tenant at the 60-story skyscraper.<\/p>\n","protected":false},"author":2991,"featured_media":1004707629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[32762,50999,35071],"class_list":["post-1004707628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-lee-associates","tag-newmark","tag-tf-cornerstone"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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