An affiliate of Harbor Group International has closed on the purchase of the 358,637-square-foot office property at 55 Broadway from an affiliate of Broad Street Development.
The 32-story building, located on the southwest corner of Broadway and Exchange Place, contains ground-floor retail and an urban plaza.
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.
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.
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.