The Morgan Stanley Building

Infobox Skyscraper
building_name= The Morgan Stanley Building
1585 Broadway


previous_building=
Tenant = Morgan Stanley
coordinates=coord|40.760387|N|73.985678|W|format=dms
year_built=
surpassed_by_building=
year_highest=
year_end=
location= 1585 Broadway, between 47th and 48th Streets
roof=685 ft (209 m)
antenna_spire=
height_stories= 42
construction_period= 1989 – 1990
complete=1931-05-01
floor_area=1,300,000 square feet [ [http://query.nytimes.com/gst/fullpage.html?res=9E0CE7DC1E3CF93AA25752C0A964958260&sec=&spon=&pagewanted=1 Commercial Property: 1585 Broadway; Tracing the Path From Leasing Coup to Bankruptcy - New York Times ] ] 120770 m² [ [http://skyscraperpage.com/cities/?buildingID=311 Morgan Stanley World Headquarters - SkyscraperPage.com ] ]
architect= Emery Roth & Sons, Gwathmey, Siegel & Associates
contractor= Starrett Brothers and Eken
emporis_id= 114095

History

Even before 1585 Broadway began to rise over Duffy Square, its developer, David S. Solomon, had signed law firm Proskauer Rose to a 20-year lease for 365,000 square feet (33,900 square meters). A notable achievement at any time, the deal was a milestone in a market where a growing number of new buildings were competing heavily for a shrinking number of tenants.

The original developer filed for bankruptcy the previous year leaving unfinished building construction, stalled leasing, and strained tenant relationships. After the bank group gained control of the asset through the bankruptcy process, Hines took over the on site property and construction management as well as the marketing, leasing and disposition activities.

In 1992, Hines was hired as asset manager and advisor to a consortium of banks which held the mortgage to 1585 Broadway, a 42-story, 1.3 million square-foot (121,000 square-meter) office tower located in New York City's Times Square.

The building is featured in the movie "Down 2 Earth" as the skyscraper from which a failing businessman jumps to his death.

Morgan Stanley bought the building for $176 million in August 1993 and moved in two years later. [cite news|first=Edwin|last=Mcdowell|title= Commercial Real Estate; Law Firm Is No Longer Lonely in Refurbished Tower on Times Square|url=http://query.nytimes.com/gst/fullpage.html?res=9E02E3DC1631F930A1575BC0A9669C8B63|publisher=The New York Times|date=2000-08-23|accessdate=2007-12-25] Currently, it uses the building as its world headquarters. [cite web|url=http://www.morganstanley.com/about/offices/usa.html|title=Morgan Stanley in United States|accessdate=2007-12-19|format=|work=Morgan Stanley Website]

See also

*List of tallest buildings in New York City
*Morgan Stanley

Awards

* BOMA Award, 1998
* BOMA Award, 1997

References