9:30 AM
The BIG EAST signed a 10-year lease agreement with The Durst Organization that will bring the conference’s official headquarters to 655 Third Avenue in midtown Manhattan, conference Commissioner Val Ackerman announced today.
The seventh floor office space, totaling 13,742 square feet, is located on the corner of Third Avenue and 42nd Street. The interior, which will be newly renovated, will serve as the principal offices for BIG EAST conference staff and be available to administrators from BIG EAST member institutions traveling to the New York area.
“As part of the BIG EAST reconfiguration, our presidents made a strategic decision to situate our conference headquarters in New York City, and we are very excited that our search landed us prime space in midtown Manhattan,” said BIG EAST Commissioner Val Ackerman. “The conference has thrived off of a decades-long connection to New York City, perhaps most evident with our men’s basketball tournament at Madison Square Garden, and our new home will serve as the ideal location to build on the many commercial, business and media connections that we have in this area.”
“We are very pleased the BIG EAST chose 655 Third Avenue as its new home,” said Jonathan (Jody) Durst, President of The Durst Organization. “We look forward to many years of partnership and growth with this outstanding organization.”
Occupancy is expected in late summer 2014. Terms of the lease were not disclosed.
Jeffrey Rosenblatt and Bill Harvey with Newmark Grubb Knight Frank served as the BIG EAST’s real estate brokers in the transaction. The Durst Organization was represented in-house by Karen Kuznick.
Before its move to New York, the BIG EAST was headquartered in Providence, Rhode Island. Since 2013, the conference occupied temporary space in the Times Square office of the law firm Proskauer Rose LLP.
About the BIG EAST
Headquartered in New York City, the BIG EAST is Butler University, Creighton University, DePaul University, Georgetown University, Marquette University, Providence College,
St. John’s University, Seton Hall University, Villanova University, and Xavier University.
The BIG EAST institutions are located in seven of the nation’s top 35 largest media markets, including New York, Chicago, Philadelphia, Washington, D.C., Indianapolis, Milwaukee and Cincinnati.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.