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Daily News from New York, New York • 34

Publication:
Daily Newsi
Location:
New York, New York
Issue Date:
Page:
34
Extracted Article Text (OCR)

500 SPAQ A i 4 Hniil lin lJLI OOW JOMES 42 342.95 11,215.92 35.55 80.86 2,166.44 1,284.99 Gore lawyer David Boies takes developer's case vs. ex-tenants trial is set to begin next month; Solow is seeking $20 million in damages. Designed 30 years ago by Gordon Bun-shaft of Skidmore Owings Merrill the firm that designed the new Penn Station 9 W. 57th St. became known for its Central Park views and By ERIC HERMAN OAIU NEWS BUSINESS WRTTER One of the ritziest buildings in mid-town is about to become the subject of a courtroom brawl starring a very ritzy lawyer: David Boies.

The man who argued in vain on behalf of Al -1 i 'Zr- A -i NEWS Gore in his Florida presi- DAILY astronomic rents, as well as for the big red 9 that stands in front. J.P. Morgan (which has since merged with Chase) moved its private dential vote recount efforts and who led the federal government's win according to Solow's lawsuit. Solow has a similar lawsuit pending against Avon, which moved after its lease ran out in '96. Richard Seltzer, J.P.

Morgan's lawyer, called the court action, "A Sheldon Solow special he's somebody who's been labeled the most litigious person in New York real estate." Boies countered: "Most of his tenants he's never had a dispute with." The building still boasts an impressive roster of blue-chip tenants, including Bank of America and buyout firm Kohl-berg Kravis Roberts. It's also home to Brasserie 8'fe, the pricey restaurant Boies helped decorate. Rents start at $90 a square foot, and one hedge fund recently leased space for a reported $130 a square foot, more than double midtown's average. "It's one of the most renowned properties in New York City and a world class trophy that is priced at the top of the market," said broker Kenneth Rapp of CB Richard Ellis. ning landmark anti-trust case against Microsoft will represent Manhattan developer Sheldon Solow in a bitter lawsuit against a former tenant: J.P.

Morgan Chase. The Wall Street powerhouse previously leased seven floors of 9 W. 57th the 50-story, sloped-bottom tower Solow owns. The lawsuit pits Solow worth an estimated $850 million, according to Forbes magazine against one of New York's most sought-after commercial tenants. A banking division into the building, and Solow also lured Avon as a tenant But J.R Morgan decided not to renew its lease when it expired in 1998, instead moving to 345 Park Ave.

Solow claims J.P. Morgan breached its lease by failing to restore the space to its "original condition" when it moved out. The suit also accuses the company of failing to properly remove asbestos. "The motive for Morgan's irresponsible and wrongful conduct is simple: money," David Boies, who led anti-trust case 11 against Microsoft, is representing developer vs. J.R Morgan and Avon.

I Elle taking spin for teen readers HBC's piece of this Rock noiv smaller Sir i At Rockefeller Center, the Peacock is trimming some feathers. NBC has decided to lease about 130,000 square feet of office space it now occupies at 30 Rockefeller Plaza, according tq By PAUL D. C0LF0RD DAILY NEWS BUSINESS WRITER Braving a big slump in advertising and competition on the Web, publishing giant Hachette Filipacchi yesterday detailed its plans to enter the crowded teen market with online and print )0 HI I I zi my MEDIA spin-offs of popular fashion magazine Elle. Hachette will launch ElleGirLcom in 7 the Hachette and Elle brands. "We're looking at Elle Girl for the long range a global brand with a lot of value and equity with the teen audience," Hachette president Jack Kliger said.

Ellegirl.com will be managed through Lagardere Active North America like Hachette, a subsidiary of French parent Lagardere. "We have a tiered strategy, beyond the initial phase of subscription acquisitions and gathering feedback," said Lagardere Active chief operating officer Ben Tatta. Sales of branded merchandise and designer products may follow. The U.S. teen population has grown steadily in recent years to 31.6 million.

They spent $155 billion last year, according to Teenage Research Unlimited of Northbrook, I1L Although the circulations of Teen People, Teen and YM dipped in the second half of 2000, total sales in the category rose as other big publishers such as Hearst, with and Conde Nast, with Teen Vogue have stepped in. GJ USA Publishing, which owns YM, recently said it was buying the subscriber list of Jump from Weider Publications. at real estate executives. The network currently occu pies 21 floors of the 70-story tower, which is designated a city' landmark. Its parent company, General Electric, occupies two additional floors.

The space NBC plans to give up amounts to about four floors. "We've downsized the company, so we need less space. And eventually we will be moving some people out to Englewood, to our CNBC facility," which is still being developed, said NBC spokeswoman Kassie Canter. NBC has called 30 Rock home for about 65 years. In 1996, the network bought the space it occupies there for $440 million.

NBC has hired GVA Williams to lease the space to other occupants. Once known as the RCA Building, 30 Rock stands between 49th and 50th streets, between Fifth and Sixth avenues. It is the largest building in Rockefeller Center, and the first to be built. It houses studios where NBC programs like "Saturday Night Live" and "NBC Nightly News with Tom Brokaw" originate, in addition to corporate offices. Eric Herman Seventeen i 2.3 million Primedia i YM 2.2 million GJ USA Teen 2 million Emap USAj Teen People 1.6 million Time Inc.

i CosmoGIRLi 601,500 Hearst Twist 322,000 Bauer Niche publisher's mass mag Recently redesigned Switching to shopper-focused format National Magazine Award winner 2 years old and growing Boosted circulation guarantee to 400.000 June in collaboration with Alloy Online, the teen-oriented media and direct-marketing company. The print edition of Elle Girl is set to debut in August and follow with four more issues next year. As part of their joint venture, in which no money will change hands, Hachette hopes to sell subscriptions to Elle Girl through the Web site, forgoing the traditionally major expense of pitching subscriptions through direct mail. It also plans to gather editorial input for the magazine from select readers who interact with the teen-sawy site. Publicly traded Alloy which operates an E-commerce and content site at AUoy.com and publishes an offline catalogue stands to add gloss and traffic to its business by partnering with I C4 0 T3 Teen Vogue 500,000 Conde Nast! issue Elle Girl i NA Hachette i Web site hi June; mag due T(U1 RoQt i Filipacchi in August eentteax, wuaaju Primedia Old standbys get new looks Tiger Beat I COmDined under new ownership and Bop 1 'Second half 2000 I.

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