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Columbia, Normandy Form JV on Midtown South Development

Columbia Property Trust and Normandy Real Estate Partners have entered a 50/50 joint venture to develop 799 Broadway in Midtown South. The $300-million boutique office property is scheduled for completion in the second half of 2020.

Designed by Perkins+Will, the loft-style property will offer floorplates ranging from 3,600 to 22,000 square feet over 12 floors. It will complement Columbia’s other Midtown South assets.

Columbia CEO Nelson Mills noted that Normandy brings “deep development expertise and success in Manhattan and elsewhere” to the JV. “Combined with Columbia’s repositioning and leasing track record in Midtown South, we believe this is a perfect partnership to develop 799 Broadway into a best-in-class office destination.”

Normandy’s Jeffrey Gronning said that with “high-end amenities and features,” 799 Broadway “will be ideally suited for tenants seeking a creative and collaborative environment, and should benefit from the limited supply of newly-developed properties in this highly desirable neighborhood.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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