Lease Beat

Three New Tenants Sign On at RFR’s 17 State Street

RFR_17 State Street

National Liability & Fire Insurance Company has signed an 8,511-square-foot lease on the 22nd floor at RFR Realty’s 17 State Street, the landlord announced today. The deal for the Berkshire Hathaway company is the largest of three new leases at the Lower Manhattan property.

“The momentum at 17 State Street continues to be outstanding,” said Steve Morrows, executive vice president and director of leasing at RFR, in a prepared statement. “In addition to the deals announced today, there are leases out with four more tenants totaling an additional 40,000 square feet.” Read More

Lease Beat

Schnipper’s Signs Lease at 570 Lexington

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Schnipper’s Quality Kitchen has signed a lease to occupy 3,021 square feet of ground level retail and storage space at 570 Lexington Avenue, The Feil Organization announced today, confirming previous published reports that the fast-casual restaurant was eyeing the space.

Known for its burgers, fries, shakes and other old-fashioned American-style offerings, the restaurant will open in the fourth quarter of 2013, joining upscale restaurant Mr. K’s at the property.

“We wanted a tenant that would be an amenity for the building and the area,” said Brian Feil, VP of Leasing at the firm, in a statement.  “There are not a lot of fast-casual restaurants in the area and Schnipper’s will be perfectly situated to serve this prestigious Lexington Avenue corporate corridor.” Read More

Lease Beat

Law Firm Fabiani Cohen & Hall LLP Renews and Expands at 570 Lexington Avenue

The Arch Atop 570 Lexington Avenue (Credit: nyc-architecture.com)

Construction and insurance litigation firm Fabiani Cohen & Hall LLP has signed a renewal and expansion for 24,000 square feet of space at 570 Lexington Avenue, The Commercial Observer has learned.

The firm will retain the 4th floor and expand into and 3rd floor, sources familiar with the deal said.

Mark Weiss, a vice president at Newmark Grubb Knight Frank, represented the tenant with Robert Silver and Robert Eisenberg.  The brokers declined comment. Read More

Commercial Linkage

JMC Holdings Debuts; Rockrose Says “Uh-Uh” to 570 Lexington Avenue; and “How Many People Can Manhattan Actually Hold?”

The former Tishman Speyers guys behind JMC Holdings get a proper introduction. (Wall Street Journal)

The eternal question “How many people can Manhattan actually hold?” is addressed once and for all. (The New York Times)

Rockrose Development says “no thanks” to $370 million price tag at 570 Lexington. (Crain’s New York)

Recovery Nowhere in Sight, Says Chicken Little. (AGBeat)

Who’s in investors’ crosshairs? Real estate’s biggest tax cheats. (CNN)

The Plan

The Plan: 600 Third Avenue

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When the holding company Altegrity acquired operating company Kroll in August 2010, one stipulation agreed upon was that the owners would relocate into an expanded space in order to consolidate offices at 1166 Avenue of the Americas and 570 Lexington Avenue—as well as another site in Hoboken. What resulted was a whirlwind tour of more than a dozen buildings that culminated in a deal that winter for 50,000 square feet at 600 Third Avenue. Richard Loeber, director of real estate for Altegrity, reviewed the fourth-floor plan—in a deal that ultimately included floors 3, 4 and 10—with The Commercial Observer and explained why the company chose to sign its deal at 600 Third and and hire the Mufson Partnership to customize the space .

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Lease Beat

Roosevelt Institute Consolidates on Lex

Looking very presidential at 570 Lexington Avenue.

The Roosevelt Institute, which promotes the “legacy, values and spirit” of the nation’s 32nd president and his wife, took 10,400 feet at the building previously known as the RCA Victor building, The Feil Organization’s 50-floor asset at 570 Lexington Avenue. Read More