Lease Beat

Two Chipotles Coming to the West Side

chipotle logo for website

There are two Chipotle Mexican Grill locations opening on the West Side of Manhattan, one uptown and one in Midtown South.

Chipotle signed a lease at Columbus Square, a development of five apartment buildings and big-name, big-box stores that runs from West 97th to West 100th Streets between Columbus and Amsterdam Avenues, the brokers in the deal said. Read More

The Plan

The Plan: 1400 Broadway [Updated]

A newly added 1,000-square-foot terrace with views of the Empire State Building, Brooklyn and the Statue of Liberty.

A penthouse suite with sweet views of the city is available for lease at Empire State Realty Trust’s 1400 Broadway with a rent of $75,515 per month.

ESRT has converted the top two floors of the building between West 38th and West 39th Streets from multi-tenant space to one contiguous unit, with a newly added 1,000-square-foot terrace with views of the Empire State Building, Brooklyn and the Statue of Liberty. Read More

Lease Beat

Fashion Avenue Sweater Knits Relocating in Midtown

525 7th Ave

Clothing supplier Fashion Avenue Sweater Knits signed a 10-year, 25,000-square-foot lease to move into a showroom and office lease at Olmstead Properties525 Seventh AvenueCommercial Observer has learned.

The company that specializes in importing women’s and children’s wear will expand from collectively smaller locations at 1400 Broadway and 225 West 37th Street and pay an average asking rent of $55 per square foot, said Marc Schoen of Savitt Partners, the broker who represented the company in the transaction. Read More


ESRT Exercises Options on 112 West 34th Street and 1400 Broadway

1400 Broadway. (Empire State Realty Trust.)

Empire State Realty Trust has exercised its options to purchase the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, stock and operating partnership units, the real estate investment trust announced today.

The REIT will acquire 112 West 34th Street for $423.6 million. The purchase price consists of $87.7 million of existing mortgage debt, $115.5 million cash and $220.4 million in shares and partnership units. The leasehold in 1400 Broadway will be acquired for $310 million. The price consists of $80 million of existing mortgage debt, $85.5 million cash and $144.5 million in shares and partnership units. Read More

Lease Beat

Apparel Supplier Inks Deal at 1370 Broadway

1370 Broadway

Intradeco Apparel has signed a lease for the entire 16,787-square-foot seventh floor at Normandy Real Estate Partners1370 Broadway, The Commercial Observer has learned.

The apparel supplier will pay rent starting in the mid-$40s per square foot, according to data from CompStak. Asking rents in the building are approximately $50 per square foot, according to listings on TheSquareFoot. Read More

Lease Beat

IPG Subsidiary Gotham Inc. Inks 25,000-SF Deal at 104 West 40th

104 West 40th Street

Advertising behemoth IPG expanded its Bryant Park-Herald Square corridor holdings with subsidiary Gotham Inc.‘s 25,000-square-foot lease at 104 West 40th Street.

The boutique wing of the ad company’s new digs are blocks away from IPG’s offices at 100 West 33rd Street, the site of a 100,000-square-foot expansion last year, and 1400 Broadway, where IPG in April inked a 90,000-square-foot deal. Read More

Lease Beat

Interpublic Group Signs Lease at 1400 Broadway


The Interpublic Group of Companies (IPG) has signed a lease for 87,000 square feet at 1400 Broadway, a spokesperson confirmed with The Commercial Observer. Three New York-based subsidiaries of the advertising conglomerate will relocate to 1400 Broadway by the end of the year from their current offices in Flatiron and Soho.

IPG, considered a “big four” advertising agency, is headquartered at 1114 Avenue of the Americas and also operates a U.S. regional office in Omaha, Neb.

The building at 1400 Broadway is owned by Malkin Holdings via W&H Properties. Currently, the building boasts 10,627 square feet of available space on the 10th floor, available immediately, according to the W&H Properties’ website. Read More

The Plan

Hatch Mott MacDonald’s New Layout

1400 Broadway.

When North American engineering consultancy Hatch Mott MacDonald sought to expand and relocate from its offices at 3 Park Avenue, officials explored buildings throughout Midtown and Midtown South, and initially they had no interest in 1400 Broadway, a 35-story building owned by W&H Properties.

All it took to change the minds of the executives, however, was a tour of the building’s 15,088-square-foot 30th floor, a space that, despite its size, boasts four separate terraces, including one that wraps around West 38th Street all the way to Broadway. Such amenities, not to mention the asset’s proximity to Grand Central Station and Penn Station, helped tip the scales in January, when officials inked a full-floor deal.

After the jump, Fred Posniak, a senior vice president at W&H Properties, reviews the floor plans with The Commercial Observer and discusses what, exactly, drew the consulting company to 1400 Broadway in Midtown. Read More

Cozy! Coat Peddler Takes Entire Floor at 1400 Broadway

1400 Broadway

Along with the chill in the air comes the welcome news the masses will not freeze, thanks to a new lease by the Burlington Coat Factory at 1400 Broadway. The vendor of $50 outerwear has just signed a 35,182-square-foot long-term lease for the entire 11th floor.

“Burlington Coat Read More