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Twentieth Century office towers cant survive in the Twenty-First on their historic reputations, architectural distinction or landmark status.

Companies today place a higher value on an older propertys contemporary assets such as state-of-the-art systems and high-end amenities that are for tenants use only.

The latest trophy building to complete a transformative repositioning is Harbor Group Internationals 51 W. 52nd St., the fabled former home of CBS known as Black Rock.

It was the first and only office tower by architect Eero Saarinen, who designed the landmarked TWA Terminal at John F. Kennedy Airport.

The $128 million Black Rock project brought the distinctive tower on the East Side of Sixth Avenue a plush, lounge-like tenants-only lobby on the 52d Street side and a modernized public lobby on 51st Street.

But only tenants enjoy the projects fun component — a cellar-level amenity suite including a state-of-the-art fitness center, a yoga room and a cafe.

All the changes helped generate 325,000 square feet in new and renewal leases that brought the towers 900,000 square feet to nearly 90% leased since HGI bought it for $760 million in October 2021 — no small feat after original owner CBS moved most of its offices out a few years ago.

CBS was the most powerful media company in the world when the tower opened in 1964, said Howard Fiddle, head of the CBRE leasing team. It was so ahead of its time with column-free floor plates.

Black Rocks smallish, 25,000 square-foot floor plates, which result from the way the tower is set deeply back from the street line, make it more of a boutique building than is normal on Sixth Avenue. The floors get natural light through floor-to-ceiling windows, Fiddle said.

The towers notable tenants include law firm Wachtell Lipton Rosen & Katz and Canadian pension fund CPPIB, which just moved into the top two floors.

About 135,000 square feet remain available. Asking rents range from $90 per square foot on lower floors to $140 psf on higher ones.

Although not a household name in the city, HGI and its affiliates control a $20 billion investment portfolio in the US and Europe.

Black Rocks rejuvenation belongs to the overall revival of Midtown Sixth Avenue, which appeared to be headed for trouble before the pandemic when some large tenants, CBS among them, announced plans to move away.

But the corridors vacancy rate today is only between ten and eleven percent depending on which market report you follow, compared with a Manhattan-wide average of twenty-plus percent. Much of the corridors strength is due to extraordinary investments major landlords made in their properties.

As weve noted before, the upgrades include Rockefeller Groups top-to-bottom redesign of the former Time + Life tower at 1271 Sixth Ave. and the many improvements to the original Rockefeller Center complex made by Tishman Speyer.

The commercial refinance game is the toughest in town these days. But Williams Equities completed a $155 million, five year CMBS loan for its 28-40 W. 23rd St., a familiar sight to Ladies Mile shoppers for its big Home Depot signs.

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Citi Real Estate Funding is the lender. The new loan will help to fund building improvements and amenities that are to include an updated atrium and skylights and a building-wide roof deck.

A Williams Equities spokesman said the refinancing is in line with our successful, timeless multi-generational strategy.

Office tenants at the 578,105 square-foot 28-40 W. 23rd — once a department store — include numerous creative, digital and tech firms.

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UK

Fireball at Southend Airport after small plane crashes

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Fireball at Southend Airport after small plane crashes

A small plane has crashed at Southend Airport in Essex.

Essex Police said it was at the scene of a “serious incident”.

Images posted online showed huge flames and a large cloud of black smoke, with one witness saying they saw a “fireball”.

A police statement said: “We were alerted shortly before 4pm to reports of a collision involving one 12-metre plane.

“We are working with all emergency services at the scene now and that work will be ongoing for several hours.

“We would please ask the public to avoid this area where possible while this work continues.”

Fireball after plane crash at Southend Airport. Pic: Ben G
Image:
A huge fireball near the airport. Pic: Ben G

It has been reported that the plane involved in the incident is a Beech B200 Super King Air.

According to flight-tracking service Flightradar, it took off at 3.48pm and was bound for Lelystad, a city in the Netherlands.

One man, who was at Southend Airport with his family around the time of the incident, said the aircraft “crashed headfirst into the ground”.

John Johnson said: “About three or four seconds after taking off, it started to bank heavily to its left, and then within a few seconds of that happening, it more or less inverted and crashed.

“There was a big fireball. Obviously, everybody was in shock in terms of witnessing it. All the kids saw it and the families saw it.”

Mr Johnson added that he phoned 999 to report the crash.

Southend Airport said the incident involved “a general aviation aircraft”.

Four flights scheduled to take off from Southend this afternoon were cancelled, according to its website.

Flightradar data shows two planes that had been due to land at Southend were diverted to nearby airports London Gatwick and London Stansted.

Smoke rising near Southend airport. Pic: UKNIP
Image:
Plumes of black smoke. Pic: UKNIP

Essex County Fire and Rescue Service said four crews, along with off-road vehicles, have attended the scene.

Four ambulances and four hazardous area response team vehicles are also at the airport, as well as an air ambulance, the East of England Ambulance Service said.

Its statement described the incident as “still developing”.

Fire engines at the scene at Southend Airport
Image:
Fire engines at the airport

David Burton-Sampson, the MP for Southend West and Leigh, posted on social media: “I am aware of an incident at Southend Airport. Please keep away and allow the emergency services to do their work.

“My thoughts are with everyone involved.”

Local councillor Matt Dent said on X: “At present all I know is that a small plane has crashed at the airport. My thoughts are with all those involved, and with the emergency services currently responding to the incident.”

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the latest version.

You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.

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World

Meredith Kercher’s killer faces new trial over sexual assault allegations

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Meredith Kercher's killer faces new trial over sexual assault allegations

The man convicted of the murder of British student Meredith Kercher has been charged with sexual assault against an ex-girlfriend.

Rudy Guede, 38, was the only person who was definitively convicted of the murder of 21-year-old Ms Kercher in Perugia, Italy, back in 2007.

He will be standing trial again in November after an ex-girlfriend filed a police report in the summer of 2023 accusing Guede of mistreatment, personal injury and sexual violence.

Guede, from the Ivory Coast, was released from prison for the murder of Leeds University student Ms Kercher in 2021, after having served about 13 years of a 16-year sentence.

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Since last year – when this investigation was still ongoing – Guede has been under a “special surveillance” regime, Sky News understands, meaning he was banned from having any contact with the woman behind the sexual assault allegations, including via social media, and had to inform police any time he left his city of residence, Viterbo, as ruled by a Rome court.

Guede has been serving a restraining order and fitted with an electronic ankle tag.

The Kercher murder case, in the university city of Perugia, was the subject of international attention.

Ms Kercher, a 21-year-old British exchange student, was found murdered in the flat she shared with her American roommate, Amanda Knox.

The Briton’s throat had been cut and she had been stabbed 47 times.

(L-R) Raffaele Sollecito, Meredith Kercher and Amanda Knox. Pic: AP
Image:
(L-R) Raffaele Sollecito, Meredith Kercher and Amanda Knox. File pic: AP

Ms Knox and her then-boyfriend, Raffaele Sollecito, were placed under suspicion.

Both were initially convicted of murder, but Italy’s highest court overturned their convictions, acquitting them in 2015.

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Politics

RWAs build mirrors where they need building blocks

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RWAs build mirrors where they need building blocks

RWAs build mirrors where they need building blocks

Most RWAs remain isolated and underutilized instead of composable, DeFi-ready building blocks. It’s time to change that.

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