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Every square foot of the arcade created an extra 10 square feet of rentable office space for the Lefrak Organization.
Through the offering, shareholders will be able to own a piece of 12 office buildings in New York and Connecticut that together comprise 7.7 million square feet of rentable office space.
The first phase of the project would open in 2004 with 153,850 square feet of rentable office space, 639,000 square feet of retail space and 105 housing units.
In addition to the towers -- designed by the architect Minoru Yamasaki, each 1,350 feet tall -- the complex included four other buildings, two of which were also gone, for a total of 12 million square feet of rentable office space.
Farther downtown, Taconic Investment Partners and Square Mile Capital are also planning a gut rehab for 375 Pearl Street, after buying just over one million square feet of rentable office space on 29 floors in that 32-story building for $172.5 million in December.
Each floor had of rentable office space which made the building's floor plans considerably larger than most office buildings in the City.
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Rentable office space occupies an estimated 60 floors of the tower.
With the help of Gov. Nelson Rockefeller, David's brother, who backed new legislation, the Port Authority vastly increased the rentable office space, bringing the total to a staggering 10 million square feet -- double what David Rockefeller originally proposed.
I also decided to forgo rentable office space to reintroduce Greenwich Street through the trade center site and to create a new park for the entire community.
Sometimes termed the products of the Chicago school of architecture, these skyscrapers attempted to balance aesthetic concerns with practical commercial design, producing large, square palazzo-styled buildings hosting shops and restaurants on the ground level and containing rentable offices on the upper floors.
The privately held software company now occupies over 12percentt of the rentable commercial office space downtown, according to the research firm PrivCo.
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