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February 28, 2008 NEW YORK - Antares executives met with real estate brokers in Manhattan on Tuesday night to pitch their projects and Stamford as a desirable, less expensive alternative to Manhattan . James Cabrera, a co-founder of Antares, told the crowd of about 80 that research shows 26 commercial clients are looking to expand or relocate and need at least 250,000 square feet of office space, including PriceWaterhouse-Coopers, AIG Inc. and Starwood Hotels. Only six office buildings in Manhattan could accommodate their needs, Cabrera said. He and other Antares executives showed the brokers plans for their two major projects in Stamford - the redevelopment of 80 acres in the South End called Harbor Point and two office towers just south of the Metro-North train station called Gateway I and II. The presentation was at Daniel restaurant on East 65th Street in Manhattan . Cabrera said plans for the Gateway project include 200,000-square-foot and 500,000-square-foot towers, and the company could accommodate a tenant that needed a large part or all of that space. He cited Stamford 's proximity and similarity to New York City . "We really believe Stamford is just an extension of New York City ," he said. Cabrera said the company plans to break ground on the first phase of Harbor Point in June, which depends on approval from city land-use boards. Cabrera said the firm is prepared to charge $20 to $70 per square foot, compared with an average rent of $150 per square foot in Manhattan . Robert Thuss of Cushman & Wakefield, the real estate firm working with Antares on the Gateway project, said access to a train station with a quick link to New York City is critical, even though telecommuting is possible from anywhere. "People have been talking about that for 20 years, but the technology still isn't robust enough," Thuss said. "You have a lot of companies that try it, but they still have to have 80,000 square feet of office space in Manhattan ." Copyright © 2008, Southern Connecticut Newspapers, Inc.
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