Lease Beat Taking Two Floors at 60 Broad Street

60 Broad Street.

The battle for shared working space in Lower Manhattan continues, with making the latest strategic move. announced it signed a lease with landlord Piedmont Office Realty Trust for 40,000 square feet at 60 Broad Street, just a three-minute-walk from its other shared working space at 55 Broadway. The company, which competes with WeWork, is leasing the space for 10-plus years and taking the 24th and 25th floors, which will be connected by an internal staircase.   Read More

Lease Beat

Cowork Space Coming to 55 Broadway in FiDi

55 Broadway., an emerging rival of WeWork for start ups to rent office space, has inked a deal for 33,000 square feet at 55 Broadway in the Financial District.

The coworking company will take up the mezzanine level of the building, part of the third floor and the entire fourth floor, as Crain’s New York Business first reported. The lease is for 13 years at the commercial of building between Rector and Morris Streets. Read More

Lease Beat

Hair Club Finds New Spot Downtown

1 Exchange Plaza at 55 Broadway  (Photo: CoStar).

Hair Club for Men is growing its business as it expands its reach to 1 Exchange Plaza at 55 Broadway in Lower Manhattan, Commercial Observer has learned. It will be taking part of the 30th floor to provide hair restoration and hair replacement services to people Downtown.

“Downtown needs certain services and this hair club has a big business in Midtown and they want to expand,” said CBRE‘s Brad Gerla, who represented the landlord, private real estate investment firm Harbor Group International, in the deal. Read More

Lease Beat

Shanghai-Based Bank Renews Lease at 55 Broadway

55 Broadway.

The Bank of Communications, a Shanghai-based institution and one of China’s largest banks, has re-signed its lease for its penthouse space at 55 Broadway in Lower Manhattan.

First reported by Crain’s New York Business, the Bank of Communications has secured a four-year lease that will allow the company to remain in its current 22,000-square-foot space. The bank now occupies the full 31st and 32nd floors. Read More

Sales Beat

Harbor Group Int’l Offloads Parking Garage

Parking garage at 500 West 43rd Street. (PropertyShark)

Norfolk, Va.-based real estate investment firm Harbor Group International has sold a parking garage located at 500 West 43rd Street to a private buyer for $13.6 million, the firm announced yesterday.

The garage, located between 10th and 11th Avenues, is leased to Hertz, which uses the three-level facility for car rental services. Harbor Group International had purchased the garage from Alliance Parking Services in 2011 for $10.5 million. Read More

Lease Beat

Zazoom Signs 55 Broadway Sublease

55 Broadway

Zazoom, an internet-based media company, has signed a 5,521-square-foot sublease from Galen Technology Solutions at 55 Broadway, Commercial Observer has learned. The tenant will relocate from 277 Broadway on a 28-month deal.  

Former WNBC reporters Tim Minton and Jay DeDapper launched Zazoom in 2011 after receiving $125,000 in partial close funding, according to CrunchBase. The company specializes in producing short, topical videos distributed through various partners such as YouTube, AOL and Dailymotion. Read More

Lease Beat

Covala Inks at 55 Broadway

Courtesy of Charles Holden

55 Broadway welcomes Covala as one of its latest tenants.

The administrator of supplemental disability benefits will be taking 5,081 square feet in Broad Street Development‘s downtown building. The office is located on seventh floor of the 32 story building. Read More

Lease Beat

Law Firm Follows Flock to Broad Street Development’s 61 Broadway


Law firm Rosner Nocera & Ragone, LLP’s signing of a 8,135-square-foot lease at 61 Broadway is the latest in a wave of leases at Broad Street Development’s properties.

Founded by Raymond Chalmé and Daniel Blanco, Broad Street Development has wrapped up 54,000 square feet of new leases and renewals at 55 and 61 Broadway, located in the heart of the Financial District, and which the firm bought in 2004 and 2006, according to the New York Post.

Three of the resent signings at 61 Broadway, including MT2 Network, Rosner Nocera & Ragone and Vincenti & Vincenti, left Sandy-damaged buildings for the property and Mr. Chalmé said asking rents are in the $30s at the building, according to the Post.

“You read a lot about the bigger deals, but the smaller-tenant market’s alive and well,” he said. Read More