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News release

New York, NY

JLL Completes Leasing Assignment at Minskoff’s 51 Astor Place in New York

25,401 SF IBM lease brings 400,000-SF Fumihiko Maki-designed office tower to 100 percent occupancy

New York, April 29, 2015 — JLL has completed the office leasing assignment for Edward J. Minskoff Equities Inc.'s 400,000-square-foot 51 Astor Place, bringing the 12-story building to 100 percent occupancy.

The final transaction in the building was a 25,401-square-foot lease by IBM for the entire 8th floor of the building, increasing IBM's total occupancy to 143,836 square feet on five floors.

Edward J. Minskoff Equities was represented by Paul Glickman, vice chairman, and Cynthia Wasserberger, managing director, along with Peter Riguardi, president of the New York tri-state region, Mitchell Konsker, Vice Chairman, and Harley Dalton, associate, with JLL. The team worked closely with Jeffrey Sussman, executive vice president, at Edward J. Minskoff Equities.

Other tenants in the building include IBM Watson Group, 1stdibs, Claren Road Asset Management, Tudor Investment Corporation, Spark Capital, Mail Online, Maplelane Capital, and St. John's University in the building's education space.

"Edward J. Minskoff had a vision for an architecturally distinct, state-of-the-art building that would attract elite office tenants," said Glickman. "The completion of this leasing effort and the quality of the tenants that have embraced the building validate Minskoff's vision for 51 Astor."

Located at the intersection of Astor Place, Cooper Union and Third Avenue, 51 Astor Place incorporates advanced technology and infrastructure to provide tenants with environmentally efficient, above-standard electrical power and generator capacity. In addition, 51 Astor Place offers state-of-the-art telecommunications capabilities with built-in redundancy and cost-effective overtime HVAC.

The building was designed by Fumihiko Maki of Maki and Associates and achieved a Leadership in Energy and Environmental Design Gold certification from the U.S. Green Building Council. The building is now as well known for its iconic artwork as it is for its technological advancements. Balloon Rabbit (Red), a 16-foot-tall sculpture by Jeff Koons, adorns the lobby, and a distinctive Keith Haring Running Man sculpture is located in the Thomas Balsey-designed urban plaza at Astor Place.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2014, the New York tri-state team completed approximately 22.8 million square feet of lease transactions, arranged capital markets transactions valued at more than $3.0 billion, managed projects valued at $7.6 billion, and oversaw a property management, facilities management and agency leasing portfolio exceeding 163 million square feet.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit