S.L. Green to market IDC Business Center

Real Estate Weekly, Feb 9, 1994

Some of the most magnificent atrium-styled office space in New York City meticulously designed and distinctively appointed facilities that have never before been offered to office users - will soon be marketed for the first time ever to the general business community.

The move, which was announced by Stephen Green, chairman of S .L. Green Real Estate, is part of a strategic repositioning at one of New York's largest and most spectacular specialty complexes the million square-foot International Design Center (IDCNY) in Long Island City.

Green, whose company was recently appointed managing and leasing agent at IDCNY, said that one of the Center's two 500,000 square-foot buildings would be renamed "The Business Center at IDCNY" and would cater to a broad spectrum of Iarge space users.

The other building will continue to serve tenants in the architectural, construction, contract furnishings and related industries. It houses showrooms for some of the country's leading furniture manufacturing companies.

"By broadening its usage," stated Green, "we believe this outstanding development will finally be able to reach its full potential. At the same time, we' re going to fill an important need in the marketplace, particularly for space users with large back office, computer or accounting requirements."

The Business Center at IDCNY will offer unusually large full floors of 60,000 to 120,000 square-feet, with up to 320,000 square-feet of contiguous space available. Most important, according to Green, rents will be affordable starting in the "mid-teen" range.

"There is nothing comparable in all of New York City, in terms of price and quality of design and construction," asserted Green. "We think there are a lot of users, from government agencies to airlines to service companies, who are going to have to seriously consider this extraordinary facility."

According to Catherine Giliberti, executive vice president of S.L. Green and head of its IDCNY management team, the marketing campaign for the Business Center will be officially launched in mid-February although negotiations for several major leases are already underway.

Opened in 1985, the IDCNY complex, which is located near Citicorp's new 1.2 mill ion. square-foot office building in the emerging Long Island City business district, is situated just minutes away from midtown Manhattan and New York City airports.