Name Change
Gregg Cohen - Corporate Real Estate Specialist
I help companies lease office space
March 2025 Newsletter #65 | Word count: 638 words, approx 3 min read
It’s always interesting how patterns start to reveal themselves when you pay close attention! Lately, as I’ve been walking around Manhattan, I can’t help but notice a growing trend—office buildings with new names popping up left and right. It almost feels like the pace of these changes is accelerating.
Take 452 Fifth Avenue, which is now 10 Bryant Park, or 666 Third Avenue, rebranded as 6 Grand Central. By the way, how many blocks away is too many to rebrand to "XX Grand Central?" Just curious, but I digress. ?
Recall a few years back, 335 Madison became 22 Vanderbilt.? And one of the most dramatic transformations? 708 Third Avenue became 10 Grand Central—where asking rents nearly doubled from the mid $40s per square foot to the mid $70s after the change. Other examples include 4 Times Square, now known as 151 (151 West 42nd Street), and years ago — NoMad Tower changed from 1250 Broadway.
The list keeps growing.
Then, as if on cue, Crain’s published an article last week titled “Manhattan office buildings can generate millions just by changing their address.” Of course, higher rental rates aren’t solely a result of a name swap—these rebrands are typically part of broader repositioning efforts, often involving significant capital investment. And all while these changes are occurring now, ?buildings that are considered outdated or obsolete are being sold for conversion, like 675 Third Avenue and 355 Lexington. On the other hand, newer, well-located properties are commanding higher rents and seeing a declining vacancy.
For an industry that often moves at a measured pace, the velocity of change right now is remarkable. A fascinating time, indeed!
Things I'm Reading?
This month’s book opened my eyes to a fascinating story from 100+ years ago.?
Dead Wake: The last crossing of the Lusitania by Erik Carlson.?
The setup- It's 1915. It's World War One and the US has yet to enter the war.?
The Germans have issued a warning that they will blow up any boat in the ocean that they feel poses a threat.?
The book offers two alternating perspectives The Hunter (A German U Boat) and The Hunted (The captain, crew and passengers of the Lusitania- a massive ocean liner carrying over 1000 passengers from the US heading over the Atlantic to Liverpool, England.?
Oh and in the background you have the British Intelligence (Room 40) monitoring the Germans which offered a whole other layer of complexity to the situation.?
It played a significant role in bringing the US in to World War One.?
An incredibly detailed account of a true story.?
A captivating story with very few at the time believing the Germans would follow through with their warning.?
A really good read.
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