Lease Beat

Leadership Directories Relocating to 1407 Broadway

1407 Broadway

Leadership Directories, a subscription database service, is relocating from Union Square to Midtown after signing a 10-year lease for 12,370 square feet on the third floor of 1407 Broadway. Asking rent was $47 per square foot.

“As low vacancy rates in the Union Square and Flatiron areas continue, we will see more companies looking to Midtown as a viable office location especially as these buildings continue to make improvements to infrastructure,” said Grant Greenspan, principal at the Kaufman Organization, who represented the building’s owner, the Lightstone Group. Read More


Douglas Elliman Markets Fifth Avenue Stores Vacated By Arden B., Mesa Grill

The soon-to-shutter Mesa Grill at 102 Fifth Avenue. (Photo Courtesy of Douglas Elliman)

Douglas Elliman Retail Group Chairman Faith Hope Consolo and Executive Vice President Joseph Aquino are marketing the adjacent retail spaces at 102 and 104 Fifth Avenue in the Flatiron District.

The 4,000-square-foot 102 Fifth Avenue will soon be vacated by Mesa Grill, celebrity chef Bobby Flay‘s 22-year-old Southwestern restaurant, whose possible closure Zagat first reported nine months ago. The 150-seat restaurant was due to shutter today, but the landlord gave it a 90- to 120-day extension.

The women’s clothing and accessories chain Arden B. already closed at the 2,200-square-foot 104 Fifth Avenue. Combined, the stores have 60 feet of frontage.

“Right now we’ve got a half-dozen offers and we haven’t said yes to anybody,” Mr. Aquino said. “A couple of restaurants want to take Mesa Grill, another two want to take all of both spaces for retail and another two are interested in the former Arden B.” Read More