History
Even before 1585 Broadway began to rise over Duffy Square, its developer, David S. Solomon, had signed law firm Proskauer Rose to a 20-year lease for 365,000 square feet (33,900 square meters). A notable achievement at any time, the deal was a milestone in a market where a growing number of new buildings were competing heavily for a shrinking number of tenants.
In December 1991, the original developer, 1585 Broadway Associates, controlled by Solomon, filed for bankruptcy, leaving unfinished building construction, stalled leasing, and strained tenant relationships.
A consortium of banks then gained control of the asset through the bankruptcy process and hired Hines Interests Limited Partnership to manage the property.
Morgan Stanley bought the building for $176 million in August 1993 and moved in two years later. Currently, it uses the building as its world headquarters.
The building is featured in the movie Down to Earth as the skyscraper from which a failing businessman jumps to his death.
-Have you been here already? How was it? We would love to hear what you thought about this place in NY. Share your thoughts with other New Yorkers.
I've never been to NY. This building and the others you've share in previous posts are mind boggling for me. Such height and beauty!
ReplyDeleteIt's one of the tallest buildings I really admire aside from Four World Trade Center and the Bloomberg Tower.. that's really tall. And I really want to get into that building.. I mean work. :>
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ReplyDeleteHey keep posting such sensible and significant articles.
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