Lease Beat

1450 Broadway Welcomes Taiwanese Airline

EVA Airways, the second largest Taiwanese airline, has signed a lease for the entire 3,771-square-foot 31st floor at 1450 Broadway, where asking rents for the tower range from $65 to over $70 per square foot.

“EVA Air might not be a household name to you and me but it is a major corporate tenant,” Jonathan Fanuzzi, broker at Jones Lang LaSalle, who represented the landlord The Zar Group, told The Commercial Observer. Mr. Fanuzzi declined to comment on the exact term of the airline’s lease, but did say it was between five and 10 years.

1450 broadwayThe property at 1450 Broadway, which was acquired by The Zar Group for $204 million in 2011 from a partnership comprised of The Chetrit Group, The Moinian Group and Minskoff Equities, is currently undergoing a significant renovation, including a redesigned lobby.

“[The property] is really being transformed into a Times Square building,” Mr. Fanuzzi said, who added the building boasts availability of 50,000 square feet which the JLL leasing team is currently marketing. Three base floors, offering space of up to 15,000 square feet, are currently available.

EVA Air current New York-area offices are located in Jersey City, according to the company’s website. The airline provides direct service to a number of destinations throughout Asia from JFK Airport and this week joined the Star Alliance, the world’s largest airline group.

The tenant was represented by Paul Walker of CBRE. Mr. Fanuzzi, Barbara Winter, Ben Bass and Mitchell Konsker of JLL represented the landlord.

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