Lease Beat

Advertisers Group Renews, Expands at Commerce Building

708 Third Avenue.

The Association of National Advertisers has renewed and expanded its headquarters at 708 Third Avenue between East 44th and East 45th Streets, The New York Post reported. It gives the advertisement advocacy group six floors in the 35-story structure, also known as Commerce Building.

ANA originally leased almost 23,000 square feet, which was spread out between the second, 23rd and 32nd through 35th floors. Now it’s adding 17,865 square feet, or the entire 17th floor, in the expansion for a total of 40,816 square feet. Read More

Cover Story

We Are OK: New Technology and Existing Resources Are Allowing Sandy’s Victims to Avoid Subleasing

US-WEATHER-STORM-SANDY

On Thursday, Nov. 1, Virgo Business Centers made 27,321 square feet of temporary, furnished office space available at 14 Penn Plaza. Companies displaced by Hurricane Sandy filed in one by one, and by the following Thursday, the space was full.

“Typically, that process takes about a year,” said Pasha Erkin, director of sales at the company. “It’s all about readiness. You could literally bring me 40 people today, and I could have the space ready tomorrow. All you have to do is walk in, flip on a switch, plug in and start working.”

In that building alone, the company took on 177 employees from displaced companies like Coronet, amfAR, Linda Decorato, Ambrose and others located on the eastern tip of Downtown and other areas hit hard by the hurricane. Read More