Minerals company leases 41,000 sf at Chrysler Bldg

Real Estate Weekly, August 25, 1993

Minerals Technologies Inc. has Signed a major lease at the Chrysler Building in midtown Manhattan.

A new publicly traded company, Minerals Technologies has committed 41,000 square feet in the building, which is at 405 Lexington Avenue. The 16-year, nine-month lease carries an aggregate rent in excess of $20 million. The company will be moving from 235 East 42nd Street. Mineral Technologies had previously been a wholly owned subsidiary of Pfizer Inc.

Among Minerals Technologies' products are supplies to the North American paper industry of precipitated calcium carbonate (PCC), a substitute for wood fibers in the manufacture of paper products, as well as monolithic refractory materials and mines. The company also processes talc and limestone.

Christopher Kraus and Donald Feiner of Cushman & Wakefield, Inc. represented Minerals Technologies in negotiations. The Chrysler Building was represented by Michael Dillow of Cook Properties, Inc., and Jeffrey Cohen and William Bassett of Cushman & Wakefield.