Lauren Elkies Schram


2014 Wired Store To Pop Up in the Milk Building

The Milk Building at 451-459 West 14th Street. (Jamestown)

In its 10th year, Wired‘s annual pop-up shop is headed to the Meatpacking District’s Milk Building, adjacent to the High Line, Commercial Observer has learned.

The tech-favorite store will assume the 8,413-square-foot storefront space, including an elevated level, at 451-459 West 14th Street, the building’s owner, Jamestown Properties, said last night at a broker party showcasing the space. It is being marketed at $300 per square foot by RKF‘s Karen Bellantoni and Emily Musilli and can be divided for as many as three long-term tenants starting Jan. 1, 2015, Ms. Bellantoni said. Read More

Lease Beat

Education Tech Company Expands in Flatiron District

100-104 Fifth Avenue. (Clarion Partners)

Knewton education technology company has expanded by 14,700 square feet to 31,000 square feet in the Flatiron District, the New York Post reported.

The education company, which personalizes digital courses, already occupied the entire eighth floor in the Clarion Partners building at 100-104 Fifth Avenue between West 15th and West 16th Streets. The firm will now also have 10,500 feet on the seventh floor as well as 4,200 feet on the 20th floor, the latter which has an outdoor terrace. Read More

Space Search

Starbucks Targets Manhattan for New Concepts

A rendering of the new Starbucks cafe in Seattle. (Starbucks)

Starbucks Coffee is planning to bring two new types of stores to Manhattan, a grab-and-go concept as well as a slow bar.

The global coffee behemoth announced last month that it was launching a high-end concept in Seattle, as well as an express store in Manhattan in 2015. But Commercial Observer has learned that Starbucks is also searching for space for the upscale cafe in Manhattan. Read More

Lease Beat

Harbinger Group Leases Soho Space

64 Wooster Street.

Publicly traded holding company Harbinger Group has landed a new lease in Soho, Commercial Observer has learned.

The company, which is run by hedge fund manager Philip A. Falcone and is an affiliate of the hedge fund Harbinger Capital Partners, took 6,000 square feet on the third floor of Zar Property‘s 64 Wooster Street between Broome and Spring Streets, according to sources with knowledge of the deal. Read More

Lease Beat

Papyrus Takes Chelsea Crumbs Location

655 Avenue of the Americas. (United American Land)

Stationery, greeting card and gift shop chain Papyrus has signed a new lease for an old Crumbs location at 655 Avenue of the Americas, Commercial Observer has learned.

The 10-year deal, which was signed last week, is for 1,372 square feet on Avenue of the Americas between West 20th and West 21st Streets, said Taryn Brandes of SCG Retail, who represented Papyrus along with SCG Retail’s Jacqueline Klinger. The asking rent was roughly $250 per square foot. Read More

Sales Beat

Victor Homes Buys NoMad Buildings for $35M

273 and 275 Fifth Avenue

The owners of two NoMad buildings, one commercial and the other residential, have sold the two properties for $35 million. The new owner, New Jersey-based developer Victor Homes, plans to “combine them in some manner” with two other parcels it owns on the block and erect “a residential condo project,” said Victor Homes’ attorney in the deal, Samuel Ofsevit of Phillips Nizer.

On Oct. 22, Victor Homes closed on the $19.5 million acquisition of the four-story, 8,060-square-foot office building 273 Fifth Avenue and $15.5 million purchase of the five-story 9,280-square-foot residential 275 Fifth Avenue, between 29th and 30th Streets. Read More


Postings: Icon Candy

Rockefeller Center.

While more firms are focusing their office space searches on Midtown South and Downtown, Midtown saw its 17th consecutive quarter of increased asking rents in the third quarter to $70.29 per square foot from $69.81 per square foot a quarter earlier, according to JLL’s third-quarter report.

With that in mind, Commercial Observer decided to look at a few of Midtown’s most prestigious addresses to see what rents they are seeking from tenants on a per-square-foot-basis. Read More

The Plan

The Plan: View the Space’s Office at 142 West 36th Street

View the Space's office at 142 West 36th Street.

View the Space, a cloud-based commercial real estate leasing start-up, has moved into its new digs after slumming it on West 30th Street. The firm’s new space, designed by The Mufson Partnership, spans 7,400 square feet on the entire 12th floor at Herald Square Properties’ 142 West 36th Street just off Broadway.

VTS was delivered turnkey space with exposed ceilings and ductwork as well as polished concrete floors. Read More

Lease Beat

Healthcare Consulting Firm Picks Up New Wall Street Space

100 Wall Street.

Global healthcare issues strategy consulting firm CBPartners has rented 5,685 square feet on a portion of the second floor at 100 Wall Street, Commercial Observer has learned.

The firm, whose clients include biopharmaceutical companies, medical device companies and government health authorities, signed a seven-year new lease yesterday and plans to move in on Dec. 1, according to a spokeswoman for the building owner, Savanna. Read More

Lease Beat

Ecommerce Solutions Provider Expands at 292 Madison [Updated]

292 Madison Avenue.

Borderfree, an international provider of cross-border ecommerce solutions, has expanded its lease by 11,113 square feet, or the entire third floor, at the Mufson Partnership-designed 292 Madison Avenue between 40th and 41st Streets, Commercial Observer has learned.

The company’s international headquarters space now spans the entire third, fourth, fifth and 17th floors, bringing its total square footage to 39,374. Read More

Lease Beat

Vogel Boots Trots Over to the Navy Yard

Jack Lynch, the CEO of Vogel Boots, left, and Bertrand de Soultrait of Bertwood Realty in Vogel Boots' new production facility at the Brooklyn Navy Yard.

New York-based horse riding boot manufacturer Vogel Boots has downsized with a new 4,000-square-foot production facility at the Wallabout-based Brooklyn Navy Yard, Commercial Observer has learned.

The company moved into suite 805 in Building 4 on the 300-acre city-owned waterfront industrial campus at the beginning of this month after selling the Soho building that housed the company, at 19 Howard Street. Read More

Sales Beat

Houlihan Parnes Partners Sell Murray Hill Building for $13.4M

28-30 East 38th Street.

Two partners at Houlihan Parnes Realtors have sold a Murray Hill building to a doctor who buys and holds real estate for $13.4 million, Commercial Observer has learned.

The sale of the six-story elevator building at 28-30 East 38th Street between Park and Madison Avenues was brokered exclusively by Amit Doshi of Besen & Associates. The building has 23 apartments and a dentist’s office. Erected in 1900, the building is 20,110 square feet. Nearly half of the apartments are rent-stabilized. The average apartment rent in the building is $2,176 per month. Read More

Sales Beat

Daten Group Buys Vacant Clinton Hill Gas Station for $7.4M

A rendering of 840 Fulton Street.

An affiliate of New York City developer The Daten Group has purchased a vacant gas station at 840 Fulton Street in the Clinton Hill section of Brooklyn for $7.4 million, Commercial Observer has learned. The developer plans to build a seven-story, 40,000-square-foot building on the lot, with 38 residential rental units, 20 percent of which will be affordable.

The seller of the 6,724-square-foot property, which is at Vanderbilt Avenue, is Fulvan Realty LLC, a long-term owner of multiple gas stations in the area. The deal, which closed on Sept. 30, included 3,464 square feet of air rights from the neighboring property at 848 Fulton Street, according to a spokeswoman for the Daten Group. Read More

Sales Beat

Chang Closes on R/GA Garment Center Buy

350 West 39th Street.

Sam Chang of McSam Hotel Group on Tuesday closed the $112 million purchase of 350 West 39th Street, home to global digital advertising agency R/GA, Commercial Observer has learned.

Mr. Chang said he doesn’t know what he plans to do with the site, which is what he told Commercial Observer in June when he signed the contract. R/GA will be occupying the location until Oct. 31, 2015, Mr. Chang said, so he has time to sort it out. But the prolific hotelier could very well be considering building another hotel. Read More