Lease Beat

Book Publisher Leases 10K SF at Charles S. Cohen’s 3 Park Avenue

3 Park Avenue.

Assouline, the publisher behind high-end coffee table books, has taken 10,000 square feet on a portion of the 27th floor at 3 Park Avenue, according to a release issued by the landlord.

The company will relocate from its current home at the Starrett-Lehigh Building at 601 West 26th Street between 11th and 12th Avenues to the 41-story property between East 33rd and East 34th Streets, Commercial Observer has learned. It will likely move during the second quarter of 2016. Read More

Lease Beat

Houghton Mifflin Secures Space at 3 Park Avenue

3 Park Avenue

Houghton Mifflin Harcourt, the educational materials and trade publisher, has signed a 12-year lease at the Cohen Brothers Realty Corp.’s 3 Park Avenue, according to The Wall Street Journal, which first reported news of the deal.

Come January 2016, the company will occupy part of the 18th floor and the entire 19th floor of the 42-story property, which is located between East 33rd and East 34th Streets. This spans roughly 35,000 square feet. According to the Journal, asking rents at the property are in the $60s per square foot. Read More

Lease Beat

Tech Firm To Add Additional Floor in Midtown South

3 Park Avenue

Digital analytics company Return Path will expand its headquarters by an entire additional 23,000-square-foot floor at Charles S. Cohen‘s 3 Park Avenue between East 33rd and East 34th Streets in Midtown South, Commercial Observer has learned.

The company, which leased the 41st floor penthouse at the building last year, will incorporate new space in the next week or so on the 30th floor that features panoramic views, a modern finish and 14 corner offices. Return Path will operate from a 46,000-square-foot footprint at the building when it assumes occupancy and the additional floor carried asking rents of $65 per square foot, Cohen Brothers Realty Corp. officials said. Read More

Power Broker

Charles Cohen Parachutes Marc Horowitz in to Turn Properties Around

Marc Horowitz. (Aaron Adler)

Charles Cohen, the president and chief executive of Cohen Brothers Realty Corporation, knows he can parachute Marc Horowitz into the middle of a leasing nightmare and Mr. Horowitz will turn the situation around.

“Marc is the most creative, instinctive and resourceful in-house commercial leasing broker I’ve ever been associated with, hands down,” said Mr. Cohen.

Read More

Lease Beat

Software Company Inks 10-Year Deal at 3 Park Avenue

3 Park Avenue

Cintra Software & Service Inc. has signed a 10-year, 8,424-square-foot lease on the 32nd floor of Cohen Brothers Realty‘s 3 Park Avenue.

The Oracle database and business service provider was drawn to the 42-story, orange brick building because of its convenient location and flexible floor plans, with plans to use the space for general and Read More

The Lobby

Cohen Brothers Promotes Marc Horowitz to Senior VP

Marc Horowitz

After three-and-a-half years handling leasing in Manhattan, Westchester, Florida and California for Cohen Brothers Realty Corporation, Marc Horowitz has made the jump to senior vice president at the firm.

“Marc has proven his expertise is not limited to a single market and has done an outstanding job in executing over a million square feet of transactions throughout our national portfolio,” President and Chief Executive Charles Cohen said in a prepared statement. “We look forward to his continued success in his new post.” Read More

Lease Beat

Return Path to Relocate in Midtown South

3parkave

Digital analytics company Return Path Inc. has signed an 11-year, 23,280-square-foot lease for the entire 41st floor at Charles Cohen’s 3 Park Avenue, it was announced today. Asking rent was in the mid-$60s per square foot.

“This deal clearly demonstrates the strong attraction of prime top-floor office space,” said Mr. Cohen, who also runs Cohen Media Group, a distributor and producer of foreign and independent films, in a prepared statement. “The views, amenities and access to transit at 3 Park Avenue are second to none.” Read More

Lease Beat

Nonprofit Relocates to 120 Wall Street

120_wall_street_2

The American Institute of Chemical Engineers has signed a long-term, 16,506-square-foot lease at Silverstein Properties120 Wall Street, it was announced today.

“After a two-year search of both Midtown South and Downtown, which included inspections of over 50 properties, AIChE elected to relocate to 120 Wall Street, one of the few buildings to provide an incentive program for not-for-profits,” said Leon Manoff, vice chairman at Colliers International, who represented the tenant, in a prepared statement. Read More

The Sit-Down

The Moviegoer: Cohen Brothers Realty’s Charles Cohen Talks Real Estate, Predicts Oscar Winners

cohen

Charles Cohen is in the business of creating. As the president and chief executive officer of Cohen Brothers Realty Corporation, Mr. Cohen oversees a portfolio of properties and design centers in New York, Florida, Texas and California. He also executive produced the Academy Award-winning Frozen River and runs Cohen Media Group, a distributor and producer of foreign and independent films. Mr. Cohen’s father, Sherman Cohen, the developer who built CBRC into a powerhouse with his two brothers, died late last month at 91. And while Mr. Cohen politely declined to answer direct questions about his father, he did speak to The Commercial Observer about his legacy when discussing recent developments at the firm and in New York real estate. Mr. Cohen also spoke enthusiastically about the film industry and this year’s crop of new movies, which will be in the national spotlight when the Academy Awards airs this Sunday.

 

The Commercial Observer: In 2011, you told The Commercial Observer that you and the rest of the real estate industry were moving at 25 miles per hour. What was the speed in 2012?

Mr. Cohen: In New York, we’re going twice as fast as last year, but not fast enough. Read More

Lease Beat

CPA Society Flees Midtown, Signs at 14 Wall Street

14 Wall Street

The New York State Society of CPAs signed a full-floor 37,000-square-foot lease at 14 Wall Street and will leave its offices at 3 Park Avenue between 33rd and 34th Streets.

The NYSSCPA joins a number of other firms who have left midtown for Lower Manhattan. CBRE‘s Brad Gerla and Jon Cope represented the landlord, Alex Rovt, a Ukrainian fertilizing titan who bought 14 Wall Street last year for $303 million. Jones Lang Lasalle‘s Ellen Herman represented the tenant. Asking rents were in the $40 per square foot range. 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