The dot-bombs and their fellow e-travelers continue to leave carnage in their wake.
Internet consultants MarchFirst Inc., which tumbled from Chapter 11 to Chapter 7 liquidation, just had about 150,000 square feet of precious space at 9 W. 57th St. “taken back” by landlord Sheldon Solow.
The MarchFirst evacuation, combined with a chunk of contiguous vacant space, left Solow with a rare, 300,000-square-foot block of “mint, fully built-out space” on floors seven to 15 in the prestigious tower with the swooping glass facade.
That in turn prompted Solow to hire a new leasing agent, Colliers ABR, because, his spokesman said, “he thought he needed a fresh look at marketing the space” – a move that surprised the real estate industry because of Solow’s relationship with Insignia/ESG, which had repped the building for three years.
Just last February, ESG chief Steve Siegel nailed down a pricey deal for Solow, negotiating an additional 250,000 square feet for Banc of America on top of 670,000 it already had, at a price estimated in the $90 range.
Meanwhile, staff of MarchFirst wait out the end at 105 E. 17th St., where landlord Related Cos. holds a letter of credit for MarchFirst’s lease of the 121,000 square-foot building.