About two years ago, LaGuardia College bought the former Executone Building, the one with the IDCNY
sign on it, for about $52 million.
In the mid-1980's, owners Siegal & Associates sold the properties to an investment group lead by Lazard Freres, which invested $150 million to convert the property into the International Design Center of New York (IDCNY
It immediately became apparent that the dim prospects for the contract furniture industry and resulting high level of arrears and 55 percent vacancy rate, mandated altering the direction of the IDCNY
and developing a new tenant base to assure its future.
was marketed for use by, and originally leased only to, wholesalers of contract furniture.
Green Real Estate, IDCNY
's leasing and managing agent, Allen & Company is expected to take occupancy of its new facilities within 30 days.
What's so exciting about the IDCNY
? For one thing, it contains some of the most magnificent atrium-styled office space to be found anywhere in the five boroughs - meticulously designed and distinctively appointed facilities that, until now, have never been offered to Ore general business community.
Green, whose company was recently appointed managing and leasing agent at IDCNY
, said that one of the Center's two 500,000 square-foot buildings would be renamed "The Business Center at IDCNY
" and would cater to a broad spectrum of Iarge space users.
The two-part event takes place October 27-28, and comprises IDCNY
's "Home Sweet Office," an expo geared to small business owners and people working at home, and The Greater New York IFMA Exposition, sponsored by The Greater New York Chapter of the International Facilities Management Association (IFMA), an office furnishings, building materials and professional services expo planned for facilities, MIS and human resources managers and designers/specifiers.
Free shuttle bus service is being maintained from Manhattan and the Citicorp subway stop is nearby, Kurtz said to dispel the perception of the IDCNY
being "hard to get to." Kurtz suggested that one large anchor tenant could revitalize the showroom mall although the space was never meant to act as a retail center.
has been named leasing and managing agent for the two showroom/office buildings comprising the International Design Center of New York (IDCNY
) in Long Island City.
Harvey Schulweis, general partner in Thom Rock Realty, which owns the IDCNY
building, said he wished for an economic recovery in New York City.
opened in 1985 to great fanfare, and was leased out primarily to contract trade showrooms which carry office furniture and accessories sold through designers.