{"id":433198,"date":"2022-04-17T22:45:22","date_gmt":"2022-04-17T19:45:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/santanders-east-midtown-tower-has-a-new-owner\/"},"modified":"2022-04-17T22:45:22","modified_gmt":"2022-04-17T19:45:22","slug":"santanders-east-midtown-tower-has-a-new-owner","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/santanders-east-midtown-tower-has-a-new-owner\/","title":{"rendered":"#Santander&#8217;s East Midtown tower has a new owner"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a292ed15ccc1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a292ed15ccc1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/santanders-east-midtown-tower-has-a-new-owner\/#%E2%80%9CSantanders_East_Midtown_tower_has_a_new_owner%E2%80%9D\" >&#8220;Santander&#8217;s East Midtown tower has a new owner&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSantanders_East_Midtown_tower_has_a_new_owner%E2%80%9D\"><\/span>&#8220;Santander&#8217;s East Midtown tower has a new owner&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Steve Cuozzo\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=38 38w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/>      <\/div>\n<\/div>\n<\/aside>\n<p>East Midtown, a favored location for hedge funds and small financial firms, will soon have a prestigious new location for them.<\/p>\n<p>After serving as Santander\u2019s New York headquarters since 1991, the 134,000 square-foot boutique office tower at 45 E. 53rd St. is finally to be made available for other\u00a0tenants.<\/p>\n<p>A joint venture of ZG Capital and Rialto Capital Management quietly signed a contract last week on an off-market deal to buy the tower for $105 million, Realty Check has learned. The seller was Florida-based MEK Management Services. The deal will close in 30 days.<\/p>\n<p>The new owners plan a $60 million-$80 million capital upgrade to modernize the soon to be vacant, 20-story jewel\u00a0and create new\u00a0tenant amenities.<\/p>\n<p>Newmark\u2019s Jordan Roeschlaub and Dustin Stolly arranged and structured the equity joint-venture and are\u00a0arranging\u00a0financing.<\/p>\n<p>Santander has used the property as its New York headquarters since it was built in 1991. It sold it to MEK in 2012 but net-leased it back. The Spanish bank exercised an option to leave early this year and plans to\u00a0consolidate its space at 437 Madison Ave. in the fall.<\/p>\n<p>The new owners of 45 E. 53rd St. plan to attract boutique financial services firms that want full-floor presences in first-class Plaza District locations.<\/p>\n<p>ZG Capital is a partnership of\u00a0Bobby Zar and James Tamborlane. They recently bought the Bruckner Building office property in The Bronx. The 45 E. 53d St. purchase is the first New York City acquisition for Rialto, which is run by Jay Mantz and Jeff Krasnoff.<\/p>\n<p>The tower stands adjacent to landmark Lever House, which is undergoing its own $100 million redevelopment.<\/p>\n<hr class=\"wp-block-separator\"\/>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-nypost-inline-default\"><img decoding=\"async\" loading=\"lazy\" width=\"300\" height=\"392\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?w=300\" alt=\"Park Tower Group building at 535 Madison Ave.\" class=\"wp-image-21933681\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?quality=75&amp;strip=all&amp;w=600 600w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?quality=75&amp;strip=all&amp;w=450 450w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?quality=75&amp;strip=all&amp;w=300 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?quality=75&amp;strip=all&amp;w=150 150w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/535-Looking-up-at-Column-Credit-Park-Tower-Group-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><figcaption>Park Tower Group is proud that its 37-story building has 94% physical occupancy based on daily headcounts.<\/figcaption><\/figure>\n<\/div>\n<p>Park Tower Group, owner of 535 Madison Ave., is proud that several lease extensions totaling 39,315 square feet have brought the 37-story tower to full occupancy. The extending tenants are Bain Capital NY, FTV Management Company and Garda Capital Partners.<\/p>\n<p>But they\u2019re just as h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y\u00a0to report that the multi-tenant property with 480,000 square feet has 94% physical occupancy based on daily headcounts \u2014 more than twice the Manhattan average of under 40% as the city continues to inch back from the pandemic.<\/p>\n<p>Park Tower Group president Marian Klein said that 535 Madison \u201cis a destination where people want to come to work,\u201d thanks to its modern <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, top-tier amenities, public art and proximity to Grand Central Terminal.<\/p>\n<p>Through a partnership between Park Tower and Christie\u2019s auction house, the building boasts a Christie\u2019s Sculpture Garden exhibition space in the outdoor public plaza and indoor lobby.<\/p>\n<hr class=\"wp-block-separator\"\/>\n<p>Sven, the Durst Organization\u2019s towering, 71-story apartment skyscraper in Long Island City, will soon have plenty of booze to go with its views.<\/p>\n<p>Queens-based Finback Brewery just signed a lease for\u00a03,800 square feet, to open late this year \u2014 its third city location. According to its publicity, the new Finback taproom will \u201cexplore fruit-forward fermentations that are conditioned in wooden foeders and ceramic crocks.\u201d Foeders, lest you forget, are very large barrels.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?w=1024\" alt=\"The space Finback Brewery will occupy at Sven.\" class=\"wp-image-21933690\" width=\"618\" height=\"485\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?quality=75&amp;strip=all&amp;w=1234 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?quality=75&amp;strip=all&amp;w=926 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?quality=75&amp;strip=all&amp;w=309 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Sven-Retail-4-41stAve-Restaurant.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>Finback Brewery will occupy 3,800 square feet at the Durst Organization\u2019s Sven in Long Island City.<\/figcaption><\/figure>\n<p>Finback co-owner Basil Lee said he\u2019s excited to showcase their mixed-fermentation sour ales that highlight New York fruits and ingredients.<\/p>\n<p>The development company\u2019s president, Jody Durst, said Finback will be \u201ca great addition to the neighborhood that\u2019s home to one of the city\u2019s premier dining destinations.\u201d<\/p>\n<p>Durst also recently announced a new green space called Sven Park, which will offer residents and the public an array of outdoor facilities.<\/p>\n<p>Sven\u2019s 958 rental units include 288 that are income-restricted. The project incorporates\u00a0a landmarked, 1927 clock tower structure which Durst is restoring and converting for modern retail use.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/17\/santanders-east-midtown-tower-has-a-new-owner\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Santander&#8217;s East Midtown tower has a new owner&#8221; East Midtown, a favored location for hedge funds and small financial firms, will soon have a prestigious new location for them. After serving as Santander\u2019s New York headquarters since 1991, the 134,000 square-foot boutique office tower at 45 E. 53rd St. is finally to be made available&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/santander-tower.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[101886,128119,72881,92901,76291],"class_list":["post-433198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-santander","tag-4-17-22","tag-commercial-real-estate","tag-durst-organization","tag-midtown-east"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=433198"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433199"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}