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This article presents information on career development of celebrities and renowned persons under the age of 40 in New York City. Adam Aponte, aged 37, medical director at North General Hospital, joined North General in 2000 as director of pediatrics and was tapped to head ambulatory care two years later, at just 34. But no matter how much he has achieved, Aponte won't be happy until he sees more minority doctors going back to their communities to help. Jon Barner, aged 37, executive producer of the television program "World News Tonight with Peter Jennings," returned to New York 18 months ago as one of the youngest top producers in World News Tonight's history.

The article focuses on some New York City's businesspeople that have gained success below the age of 40. Businesswoman Donatella Arpaia knew that the family business of running Italian restaurants was not supposed to be part of her future. Now, Arpaia is one of the hottest young restaurateurs in New York City and is on the verge of becoming a lifestyle guru who serves up advice on entertaining and cooking. By late summer 2001, businessman Dennis H. Friedrich was one of the three final bidders on the World Trade Center lease in 2001. He was later running and renting space in Brookfield's 23 U.S. office buildings and development sites, including the two complexes bookending the World Trade Center. Today, he is one of the leading figures working to rebuild downtown's commercial prospects.

This article focuses on leaders calling for cut in 7 WTC asking for rent. Increasingly worried downtown business leaders say developer Larry Silverstein must slash his asking rent for office space in 7 World Trade Center to lure an anchor tenant. Industry experts say that the situation at 7 World Trade is serving as a litmus test for how successful Silverstein may be in convincing companies to move into the Freedom Tower and other buildings on the World Trade Center site. Silverstein's asking rent for 7 World Trade space, at $50 per square foot, far exceeds prices nearby.

This article reports that landlords and redevelopment officials fear that the downtown rental market will suffer following the December 31 expiration of a crucial real estate incentive program for small businesses. Despite the relative success of the World Trade Center small firm attraction and retention grant program (SFARG), landlords have the equivalent of more than 200 football fields of downtown office space to fill. Early reports show that SFARG, which provided $3,500 per employee to companies with fewer than 200 workers that leased new downtown offices, gave $140 million in benefits to more than 2,000 businesses. Landlord Brookfield Properties, which filled 1 million square feet of downtown office space last year with tenants both small and large, views the SFARG incentives as a major loss.

The article informs that skyscraper owner Norman Sturner has followed an old-school approach to acquiring properties. He never let a seller rush him into making a deal. This year, though, after losing out on four bids to buy office towers on Park and Fifth avenues, Sturner, the principal of Murray Hill Properties, struck back. When a broker offered to sell him the Fashion Gallery Building at 1412 Broadway, Sturner lost little time. In recent months, as the already red-hot market for Manhattan office buildings has exploded in a blaze of new deals, many market veterans have quietly followed Sturner's strategy.

The article informs that New York City and state officials working to keep Verizon Corp.'s headquarters in New York are focusing their efforts on Grafting an incentive plan to lure the telecommunications giant to 7 World Trade Center. New York-based real estate sources say that officials are pushing the tower, the first scheduled to be completed near the Trade Center site, as a new headquarters after Verizon sells its building on Bryant Park. Verizon and city economic development officials declined to comment about specific discussions. The building, the former New York Telephone Co. headquarters, currently contains offices for Verizon's top management, including Chief Executive Ivan Seidenberg, as well as an extensive switching system for the city's phone lines.

The article reports that international investors are invading Manhattan, snapping up real estate like never before. Even the Japanese, many of whom were burned during the downturn of the late 1980s, are returning to the market. Sales brokers say that over the past six months, increasing numbers of overseas buyers have been bidding up properties and closing deals, beating out the city's established real estate families and real estate investment trusts. Investors are taking advantage of the weak dollar, as well as the high returns and the stability that Manhattan real estate has offered relative to other global investments.

The article reports that Manhattan district attorney's office is conducting a criminal investigation into one of the city's most prominent real estate companies, Max Capital Management Corp. whose charismatic co-founder officially resigned on Friday. An attorney for Adam Hochfelder, led the four-person acquisitions team for Max, which had been an active player in the market of buying and selling Manhattan skyscrapers. Hochfelder signed an agreement to sell his 51 percent stake in the company to his most recent partner for a purported $26 million.

The article reports that in the past year, Manhattan commercial and residential landlords have expanded their portfolios to include a wider variety of properties across the country. Worldwide Group, which has developed 10 office and seven residential properties in the past 25 years, just expanded its borders by buying a site in Union City, New Jersey. RFR Realty continues to look for New York City investments, the fund bought a 500,000-square-foot shopping mall in Las Vegas because it expects that investment to double its net operating income within three years.

Washington Heights, New York's landlord Rubin Pikus spent 32 years developing and managing his family's portfolio of 30 apartment buildings, and he planned to pass all of them down to his grandchildren. The often-overlooked neighborhood of Washington Heights has been the scene of the city's hottest real estate deals this summer. In the past two years, national real estate investor Praedium Group LLC bought 600 housing units in Washington Heights-part of its 15,000-unit portfolio. With minor renovations to their stock, buyers can charge much higher rents for Washington Heights apartments, while still offering prices that look like bargains to apartment-hunters used to prices in the East Village or the fashionable neighborhoods of Brooklyn.

When Playboys lease came up for renewal, executives at Hugh Hefner's classic magazine considered making a break from their posh Fifth Avenue headquarters in New York. Costar Group Inc. data show that 18 of the 50 top deals in the first half of 2004 were renewals, compared with two of the top 50 deals in the first half of 2002. According to Jones Lang LaSalle Inc. data, 40% of the leases in the first half of 2004 were renewals, compared with 27% in the first half of 2003, though the 2004 figures exclude the behemoth Bank of America and PricewaterhouseCoopers LLP deals.

Its no news that residential buyers are resorting to fierce bidding wars to close on deals in the overheated residential real estate market. But some of the most dramatic residential bargaining tactics are beginning to pale in comparison with the high-stakes competition for Manhattan, New York commercial properties. While select Manhattan office buildings have long attracted bidding wars among the world's wealthiest investors, real estate experts say that the overall office market is approaching a frenzied level, based on the volume of sales and the speed in which deals are closing in recent months. During the first half of 2004, 30 buildings sold for a total of $5.1 billion, compared with all of 2002, when 48 buildings sold for a total of $7.3 billion.

Government officials and construction executives are working closely to develop a strategy to keep one of the biggest building projects in New York City's history from overwhelming an already construction-weary neighborhood. Officials involved in rebuilding lower Manhattan have picked up the pace of their planning efforts in recent weeks. Spurred by the fall groundbreaking slated for the Freedom Tower, they expect to appoint a construction coordinator in the next few weeks. The goal of the Lower Manhattan Development Corp. is to ease the pain for the growing numbers of people who live and work in the area.

As a neighborhood basking in revitalization, Harlem, New York City sounded like the perfect destination for a burgeoning nonprofit like the Posse Foundation. The group, which helps inner-city students get into top universities, planned to move its offices from a staid skyscraper on Wall Street to a freshly renovated tower in one of the city's most historically and culturally rich neighborhoods. But when landlords expected the nonprofit to pay about $23 a square foot, plus construction costs and renovation fees for air conditioning units and sprinklers, Posse Foundation changed directions. Though the demand for retail and residential real estate continues to grow in Harlem, the office leasing market is lagging behind as tenants and landlords battle over what they consider fair rental prices. Prospective tenants say that much of the office space for lease in Harlem is in disrepair, with landlords expecting tenants to pay for costly renovations.

The Port Authority of New York & New Jersey has yet to decide how much retail space to build on the World Trade Center site and where to build it, but developers already are lobbying the agency about managing the project. Related Companies LP, which is winning high praise for its handling of the retail space at the new Time Warner Center, is believed to be the leading contender, according to high-level real estate sources. Located in the third-largest business district in the nation, with a growing high-income residential population and a burgeoning tourism industry, the World Trade Center site potentially offers a developer an extremely lucrative retail venture.

This article presents information on the plans of developers. As New York's downtown continues its transition from financial center to high-end residential haven, developers are waging a bidding war to build an apartment complex on Battery Park City's last available waterfront site. On March 5, 2004, more than 10 development teams submitted their bids to develop this site. James Gill, chairman of the Battery Park City Authority and a partner at law firm Bryan Cave said that this was the biggest response, they have ever got, both in terms of the numbers and the amounts being offered."

This article asserts that the Financial Services Volunteer Corp. (FSVC) is in an enviable place among nonprofits, as in recent months, the group's budget nearly doubled as the U.S. Agency for International Development and the State Department hired FSVC to oversee more projects to stabilize Middle Eastern economies. With few deep-pocketed financial and law firms calling for rentals, brokers and landlords are embracing business from nonprofits. As a preventive measure, Young Adult Institute recently renegotiated leases at five of its New York area locations and bought out seven residential sites.

Real estate deals are getting done at rapid speed in New York City as of December 8, 2003 as the year winds down. Companies that used to spend 90 days on lease negotiations are wrapping up deals in 45 days. This movement largely is driven by a meeting of the minds between tenants and landlords. Companies are worrying less that rents will drop lower after they sign leases. With average asking rents now at $37 a square foot, new tenants have filled up 87% of the space. Some of the growth in the market is driven by corporate expansion.

As the demand for commercial office rentals remains sluggish and New Yorkers fork over larger amounts of money to buy the few residential units on the market, the trend of converting commercial office buildings to luxury condominiums is creeping northward at an accelerated pace. These conversions are happening most often in the high-ceiling spaces of the garment district, the elegant century-old buildings along Park Avenue in New York City and the aging properties on the outer edges of Chelsea, Manhattan, New York City and the meat-packing district. While office tenants may dismiss these buildings as outdated, residential buyers consider the aging structures charming and historic. The buildings sell faster and for more money with every conversion on the market.

In his career as a real estate investor, Eric Hadar has progressed from purchasing Ravenite Social Club in Little Italy in 1998 to acquiring the 59-story Citigroup Center just two years ago. Lately, however, affected by rising building prices, Hadar has switched from buyer to financier. He has set up a new debt fund that focuses exclusively on providing a buyer with mezzanine debt--the cash that bridges the gap between the down payment and the amount a bank is willing to provide for the mortgage. The key attraction of mezzanine financing is the payoff. Hadar is part of a growing number of investors in Manhattan, New York City commercial real estate who, instead of doing their own deals, have quietly made the switch to financing the deals of others. These new mezzanine lenders include family firms like Allied Partners and large landowners such as RFR Holding.

Seventeen months after putting office space in the Time Warner Center on the market, the developers of Manhattan's highest-profile new office buildings have given up on renting the space and are occupying it themselves. After a fruitless search for tenants, The Related Cos. and Apollo Real Estate Advisors are both moving their headquarters into the complex's north tower. They will take up to a combined 106,000 square feet of the space that had been marketed to tenants. Time Warner Inc. is buying the remaining vacant space, about 105,000 square feet, and will try to sublet it. The company does not plan to lower the rents. Asking rents in the building are about $70 a square foot.

Apparently stalled in his negotiations with the Port Authority of New York & New Jersey, developer Larry Silverstein is aggressively looking for another anchor tenant for 7 World Trade Center (WTC). Brokers say Silverstein has launched a multipronged campaign to promote the space. After updating brokers on David Childs' architectural plans for the $700 million project, and the building's sophisticated security plans, Silverstein encouraged them to promote the site to their clients. The Port Authority was widely expected to be Silverstein's anchor tenant for the rebuilt 7 WTC. Silverstein says financing the construction of the building is not predicated on an anchor tenant; rather, the developer is using insurance money and $400 million worth of Liberty Bonds.

The article informs that financial guru David Bach, whose books "Smart Women Finish Rich," and "Smart Couples Finish Rich," offer advice on how to attain financial security, is making inroads into real estate. Earlier this year, Bach bought a 2,000-square-foot office condominium for roughly $900,000 at 145 Hudson St. in TriBeCa. Then he turned around and sold the space to neighbor Blue Nine Capital for $980,000. With the profits, Bach bought 4,200 square feet of office space upstairs from the office condo for $2.5 million.

The article reports that an East Side communications firm hired an architect and negotiated a deal to rent new offices at Madison Square Park, New York. Then it changed course and decided to stay put after getting an offer from its current landlord. RF/Binder Partners signed an early 10-year lease renewal for 22,000 square feet at 950 Third Ave. Cushman & Wakefield Inc. represented the public relations firm, and CB Richard Ellis represented landlord Kipp/Stawski Management Group. The building's asking rents average $50 a square foot.

The article informs that a research firm wants to draw talent from around the region is consolidating its offices in the heart of Manhattan, New York. Synovate Inc., the market research arm of communications firm Aegis Group PLC, is moving into 22,500-square-foot offices at 360 Park Avenue, South, at East 26th Street. Enterprise Asset Management Inc. owns the building on which Reed Elsevier PLC has a lease. After several recent acquisitions, Synovate executives wanted to move employees in Tarrytown and Rockville Centre, Long Island, to a single location. The firm expects to transfer 100 workers from both offices into the midtown south location by fall.

The article focuses on the affordable housing in New York City. Julien Studley, a real estate developer, is taking on the affordable housing crisis. He has spent half a century hammering out the city's most difficult office real estate deals, from renting the original 7 World Trade Center to assembling land for midtown's Citigroup Tower. Partnering mainly with Henry Wollman, who directs the Newman Real Estate Institute at Baruch College, Mr. Studley is scouting out six sites in Brooklyn and one site in East Harlem to build affordable housing over the next four years. For his affordable housing efforts, Mr. Studley says he is less concerned with profits.

The article focuses on New York Life Insurance Co. which is opening its world headquarters to another office tenant. Design firm Thornton-Tomasetti Group Inc. executives signed a 15-year lease to rent 70,000 square feet on the 17th through 19th floors. Thornton-Tomasetti Group Inc. will relocate its New York office to 51 Madison Avenue, between East 26th and East 27th streets. There were the unique amenities, like a full-service cafeteria, conference area and recently upgraded infrastructure, says Paul Glickman, the Cushman & Wakefield Inc. executive vice president representing New York Life.

This article focuses on United Stations Radio Networks Inc.. United Stations Radio Networks, which calls itself the largest independently owned and operated network in the U.S., signed a 10-year lease for 19,000-square-foot offices at 1065 Sixth Ave., at West 40th Street in New York City. The building's asking rents average $36 a square foot. United Stations also wanted an office central enough to encourage entertainers like Ozzy Osbourne and Dan Aykroyd to stop by to record shows. The radio network was co-founded by Dick Clark.

This article reports that law firm Cravath Swaine & Moore, which currently rents 475,000 square feet in 1 Worldwide Plaza, at 825 Eighth Avenue, has been in talks with the building 1 Byrant Park's developer, the Durst Organization, about relocating to the 52-story skyscraper when it opens in 2008. Bank of America Corp. will occupy half of the building's 2.1 million square feet, leaving developer Douglas Durst with another 1 million square feet of high-priced office space to fill.

This article reports that Palladia Inc., which provides services for homeless people and substance abusers, recently bought the Legal Aid Society building at 2006-2016 Madison Avenue, at East 128th Street, for $9.3 million. Philip Tugendrajch brokered the deal for Palladia and building owner Tower Investments. Palladia spent two years looking for land to develop or a building to purchase in Harlem, and also considered staying in its downtown offices at 10 Astor Place.

This article reports that prominent classical music firm Columbia Artists Management Inc. (CAMI) will leave its longtime headquarters in a landmarked building it owns across from Carnegie Hall for larger offices nearby. The talent firm signed a 12-year lease for 20,000 square feet at 1790 Broadway, at West 58th Street. Grubb & Ellis New York Inc. represented both CAMI and the building's owner, Good Hope Management. CAMI will also vacate space at 1841 Broadway and move those workers into its new headquarters, which is more accessible to clients working at other venues in the city.

The article reports that the Empire State Building, New York is embroiled in a legal battle with Reverend Al Sharpton's civil rights group over unpaid rent. Lawyers for the iconic tower sued the National Action Network last year for $ 252,000 in back rent, and they have been trying to hammer out a deal in State Supreme Court ever since. The group rented 1,986 square feet in the building in 1999. The National Action Network abandoned the 48th-floor space, stopped paying rent and was formally evicted nine months later. Brokers for the Empire State Building eventually leased most of the network's space to Infomercial Funding Corp.

This article reports that a Brooklyn, New York City, New York-based developer Angel Group is breaking price records with his first Manhattan condominium project in Chelsea. The Angel Group, founded three years ago by David Angel, is building a 12-story tower at 165 West 18th street, between Sixth and Seventh avenues. Last fall, the group bought two separate buildings from owners Bob Nestoras and Richard Bloch for a combined $ 11.3 million, or $ 302 per buildable square foot. The deal broke sales records: Lots in the neighborhood had sold for a maximum of about$ 200 per buildable square foot.

This article presents news items related to real estate in New York City, as of February 9, 2005. Publisher's of the periodical "Newsweek," search for a new downtown headquarters has narrowed to one building, and sources say the magazine is in serious negotiations with the city Economic Development Corp. for incentives. It won't be the only publisher in the building. Sources say financial printer Bowne & Co. Inc. plans to move there as well. In another development, Restaurateur Mario Verciani plans to open his second French bistro in midtown this summer to build on the success of Lea at 230 Park Ave.

This article reports that on the heels of the departure of its co-founder, Adam Hochfelder, and its re-naming as Monday Properties, the landlord formerly known as Max Capital Management Corp. convinced one of its largest tenants to renew its lease. Advertising agency J. Walter Thompson signed a 10-year lease renewal for 270,000-square-foot offices at 237 Park Ave. New York City, between East 45th and East 46th streets. The building's asking rents average $62 a square foot. J. Walter Thompson's lease doesn't expire until September 2006, but the agency's executives wanted to lock in a more competitive rent.

This article reports that with many businesses expanding again, the Durst Organization Inc. is making deals with existing tenants to fill its empty offices. The landlord recently signed leases with current renters for a combined 76,000 square feet of extra space at 1133 Sixth Ave. in New York City. Insurance company Ace USA signed a 10-year lease for an additional 33,000 square feet on the building's top two floors. Law firm Patterson Belknap Webb & Tyler LLP signed a 10-year lease for an additional 43,000 square feet on two floors.

This article reports that in a rare deal for the hyper-competitive sales market, one social services group was able to profit from its real estate holdings and stick with its mission of helping the underserved. The Boys Club of New York sold its Lower East Side clubhouse to another nonprofit, Common Ground Community. Common Ground, which owns or manages more than 1,500 Manhattan housing units for the formerly homeless, late last month bought 133 Pitt St., at East Houston Street, for $10.5 million-or roughly $100 a buildable square foot. Common Ground executives plan to replace the clubhouse with a 260-unit apartment building that will provide permanent and temporary housing for the needy. Cushman & Wakefield Inc.'s capital markets group represented both sides.

The article presents information related to the real estate in New York City. Cherry Hill, New Jersey-based Commerce Bank will take over 60,000 square feet at 317 Madison Avenue, at East 42nd Street in Manhattan, New York City. The bank will spend $12 million to upgrade the space, with plans to use the ground floor as a retail outlet and the up-per floors as administrative offices. Edwin Gould Services for Children and Families signed a five-year sublease for 26,800-square-foot offices at 40 Rector Street, between Washington and West streets in New York City.

This article reports that while Charlotte, North Carolina-based financial firm Bank of America Corp., waits to move into its new headquarters on Bryant Park, the is celebrating the holidays in New York real estate style. The bank is renting another huge block of space at the epicenter of Manhattan's holiday glitz-just steps from the Rockefeller Center Christmas tree. Real estate sources say that bank executives are negotiating a 15-year lease to rent 220,000 square feet-formerly the Associated Press offices-at 50 Rockefeller Plaza. Through the season's slew of real estate holiday parties, industry insiders buzzed about how the bank beat out auction house Sotheby's and the Royal Bank of Scotland to call these coveted offices home.

This article reports that one of the few developers in Manhattan, New York City, willing to build a speculative office building is also willing to pay top dollar for a SoHo site that needs a special permit to allow for the residential tower that he wants to build. Axel Stawski recently closed on an empty lot at 27 Wooster Street, at Grand Street, for $325 a square foot, or about $15 million. Because of its location in the SoHo cast-iron district, he must undergo a 14-to 18-month process with the city Landmarks Preservation Commission to change the zoning from manufacturing to residential.

The article reports that "The New York Sun," one of the city's youngest daily newspapers, has a new landlord. Landlord Maurice Laboz bought the Cary Building at 105 Chambers St., at Church Street, for $13 million. The purchase includes the ground floor retail space, the second through fourth floors, and air rights.

The article informs that a law firm known for its private equity practice is expanding its midtown presence, following a series of mergers and a pickup in corporate work. Nixon Peabody LLP signed a 13-year lease for 82,700-square-foot offices at 437 Madison Ave. The firm is renewing its lease for 65,900 square feet and renting an additional 16,800 square feet. SageGroupAssociates represented both the law firm and landlord Kaufman Organization. The firm, which moved into the building 10 years ago, has expanded steadily through the past decade.

The article reports that, for the first time since Morgan Stanley & Co. Inc. lost its World Trade Center offices on September 11, 2001, the firm is negotiating a deal to move some offices back to its former neighborhood. Real estate sources say that Morgan Stanley executives plan to sublet 200,000-square-foot offices at 1 New York Plaza, where the space is available for 10 years. Since Morgan Stanley lost 13 of the 3,700 employees who worked in its World Trade Center offices, the financial firm dispersed its workers through midtown, TriBeCa and Westchester.

The article presents information on purchase of office by a British investment firm and a bank from Bahrain in New York. Eager to get a slice of the profits in the burgeoning downtown market, a British investment firm and a bank from Bahrain teamed up to buy the office portion of 86 Chambers Street. DCD Capital, a division of London, England-based DCD Group, and Taib Bank, a newcomer to the Manhattan real estate market, bought the building's eight lower floors, encompassing 112,000 square feet of space, for$ 36.5 million. Four years ago, New York state sold the entire 28-story building to a partnership of developer Robert Levine and Lehman Brothers for$ 38.6 million. The lower floors, which remain commercial, are home to the U.S. attorney's office and small retailers.

The article focuses on chief executive Peter Marchetto. Bovis Lend Lease Inc. promoted Marchetto to chief executive for the U.S. and Latin America, a business that will generate $2.9 billion in revenues in 2004 for the world's fourth-largest construction firm. Marchetto will continue to devote a quarter of his hectic days to landing more health care and residential construction projects for the firm, which ranks fifth in estimated 2004 New York area revenues. Within days of the attack on the World Trade Center, Bovis lost $350 million in New York area projects.

The article reports that east New York may not be considered the most nurturing neighborhood, one children's furniture maker found the area an ideal location in which to take its early business steps. For 18 years, the Brooklyn locale provided cheap rent and ample storage space for the firm's cribs and changing tables. But a spate of recent agreements for licensing characters such as Dora the Explorer and the Wiggles has nudged Delta Enterprise Corp. into a growth phase and a move to Chelsea. Furthermore, Delta executives hope to be able to draw interns and employees from the neighboring Fashion Institute of Technology and Parsons School of Design, and to attract members of the nearby toy and childrenswear industries as clients.

This article focuses on leasing deals between two firms. Over the past year, more than 1 million square feet of office space have been leased in the MetLife Building, making existing tenants eager to seal deals of their own. Just this month, two law firms signed leases for a combined 185,000 square feet of offices in the trophy tower at 200 Park Ave. Law firm Hunton & Williams LLP, which moved to New York in the mid-1980s to counsel Philip Morris, signed a 15-year lease for 133,000 square feet of new office space. The firm is nearly doubling its size from the 69,000-square-foot office it currently occupies in the building. Meanwhile, law firm Gibson Dunn & Crutcher LLP signed a seven-year lease in the building.

Landlord Tishman Speyer Properties Inc., says that Mitsubishi Corp., decided to leave its building at 520 Madison Avenue, New York City. A Tishman Speyer spokesman says that Mitsubishi decided to move after an acrimonious arbitration proceeding. During negotiations over rent for the final years on the company's existing lease, Tishman Speyer wanted Mitsubishi to pay $70 to $80 a square foot. Mitsubishi wanted to pay $45 a square foot. The final ruling was that Mitsubishi would pay $69 a square foot through April 2007.

In a sign that the company BCBG Max Azria's flowing pale-pink sundresses may be winning more fashion fans than Liz Claiborne's tailored, turquoise summer styles. BCBG is taking over its rival's old offices. BCBG signed an 11-year deal to rent 26,783 square feet of space at 1450 Broadway, at West 41st Street in New York City. BCBG currently sublets space on the building's first floor and leases a small showroom on the fifth floor, but with its latest growth spurt, the design company required more room. BCBG and its new neighbors, such as Disney and theater owner Nederlander Producing Co., are sold on the building's central location.

The Durst Organization Inc. pulled off a coup in the real estate wars last week, convincing Mitsubishi International Corp. to move its headquarters to 655 Third Avenue, from 520 Madison Avenue, in New York City its home for 17 years. In the process, Durst stole a prime tenant from competitor Tishman Speyer Properties Inc. Mitsubishi signed an 18-year lease to rent 97,000 square feet, or nearly a third of the building. Cushman & Wakefield Inc. represented Mitsubishi. Durst, which owns the office tower, represented itself. Asking rents are about $42 a square foot.