The Moinian Group Completes Ownership of 3 Columbus Circle
— Moinian closes on deal with SL Green to finalize 100% stake in iconic Columbus Circle office building —
NEW YORK –(BUSINESS WIRE)
The Moinian Group today announced that they have closed on its deal with SL Green to complete its full ownership of 3 Columbus Circle, the iconic office building that also houses Moinian’s headquarters.
In 2011, The Moinian Group first partnered with SL Green on 3 Columbus Circle, which was formerly known as the Newsweek Building and originally built as the General Motors Corporation’s headquarters. The 26-story Class-A office building is located on Broadway just across the street from Time Warner Center, with expansive views of Central Park.
In 2012, together with renowned architect Gensler, The Moinian Group oversaw a complete renovation of the building, including the design of a new facade and lobby. The modernization of 3 Columbus Circle helped quickly lease up the building to 100% and it continues to remain fully leased. The building’s current roster of office tenants includes VMLY&R and Versace USA. Nordstrom occupies a portion of the retail space on the ground floor.
With completion of the new agreement, Moinian assumes full ownership of 3 Columbus Circle.
“When The Moinian Group purchased 3 Columbus Circle nearly twenty years ago, it was a milestone achievement for our firm and it has always held a special place in our portfolio,” said Joseph Moinian, founder and CEO of The Moinian Group. “As our roster of commercial and residential projects continues to grow — including the rising 3 Hudson Boulevard on the Far West Side — 3 Columbus Circle remains a benchmark for the standard of quality and excellence that we aim to achieve. We’re proud of our partnership’s success with SL Green at 3 Columbus Circle and continue to strive for the same with our existing and future partnerships.”
3 Columbus Circle’s dramatic Central Park views offer natural light and spaciousness that are just steps from many transportation options in Columbus Circle. The building offers a fully staffed management team with white glove service and security, temperature-controlled work environments, and 24/7 access.
Between its anchor tenants Nordstrom, Chase, and CVS as well as proximity to groundbreaking developments like Vornado’s 220 Central Park South and Extell’s Central Park Tower, 3 Columbus Circle is perfectly positioned as the crowning flagship for the Moinian Group’s headquarters.
For more information on The Moinian Group and its properties, please visit www.moinian.com.
About The Moinian Group
Founded by Joseph Moinian, The Moinian Group today owns and operates a diversified portfolio of assets across the United States and is among the only national real estate entities to develop, own and operate properties across every asset category, including office, hotel, retail, condos and rental apartments. The Moinian Group’s holdings include high-profile assets in America’s leading cities, including New York, Dallas and Los Angeles. For the past three decades, The Moinian Group has been a pioneer in the development of emerging areas of New York City such as Downtown and West Side of Manhattan, developing commercial, residential and mixed-use projects that combine luxury living, modern office space and high quality retail. The Moinian Group maintains a reputation for developing state-of-the-art, aesthetically distinguished properties as the firm continues to strive for excellence. More information on the Moinian Group and its portfolio can be found at www.moinian.com.
Liz Latino, 212-889-0808
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