Lease Beat

DraftKings Heads to 400 Lafayette Street

400 Lafayette Street.

Fantasy sports site DraftKings has inked a deal for new office space at 400 Lafayette Street, in one of two leases signed this week at the building.

The Boston-based company is taking about 23,500 square feet in a five-year lease, according to landlord’s broker ABS Partners Real Estate. DraftKings will be on the fifth floor, according to The Real Deal, which first reported news of the deal. Read More

Lease Beat

Athleisure Retailer Signs Office Lease in Flatiron

20 West 22nd Street.

Bandier, a luxury fashion, fitness and music boutique where spandex sells for $130, has signed an office lease at 20 West 22nd Street between Fifth Avenue and Avenue of the Americas, a property owned by a handful of ABS Partners Real Estate executives and investors.

According to a press release issued by ABS Partners, Bandier will move into its 2,309-square-foot space on the 10th floor of the property later this month. Read More

Lease Beat

Drybar Continues Manhattan Takeover With New Lease at 270 Madison

270 Madison Avenue.

Drybar, the “blow dry bar” that began in Los Angeles and has since spread throughout Manhattan, is opening another salon, Commercial Observer has learned.

The company has signed a lease for 3,050 square feet at 270 Madison Avenue between East 39th and East 40th Streets, only blocks from Grand Central Terminal, according to a press release issued by ABS Partners Real Estate, which helped broker the deal. Asking rents in the 14-year lease were $125 per square foot. Drybar, which already has eight locations in Manhattan, is expected to open at the property this summer. Read More

Lease Beat

LongTail Ad Solutions Expands at 8 West 38th Street

8 West 38th Street.

LongTail Ad Solutions signed a seven-year, 3,602-square-foot expansion lease at 8 West 38th Street, bringing the company’s total space in the Fraglow Realty building to 15,352 square feet, Commercial Observer has learned. The asking rent was $49 per square foot.

“It’s a boutique side street building with huge windows, exposed ceilings, hardwood floors and priced right,” said Scott Brown of Newmark Grubb Knight Frank via a spokeswoman. He represented the tenant. “The company has been in the building less than a year, so it is exciting to see it grow in such a short amount of time.” Read More

Market Reports

First Three Quarters Outpace Entire Previous Year in Midtown South

Midtown South Map

Office leasing activity this year in the tight Midtown South market has already bested last year’s total by more than 2 million square feet, according to a new quarterly report released this morning by CBRE.

Transactions like Google’s 178,065-square-foot lease at 85 10th Avenue, Yelp’s 152,232-square-foot deal at 11 Madison Avenue and Squarespace’s 93,517-square-foot lease at 225 Varick Street have netted a year-to-date total of 5.16 million square feet for 2014 after last year’s leasing totaled only 3.06 million square feet in the market composed of six neighborhoods bounded by Chelsea and Madison Square on the north and Soho and Hudson Square on the south, the report says. Read More

Lease Beat

General Assembly Expands at 915 Broadway

915 Broadway.

Tech, business and design educator General Assembly has expanded at 915 Broadway, with the addition of 13,386 square feet on the entire second floor.

General Assembly has occupied the full fourth floor in the building since early 2012 and then added the third floor in March 2013. The most recent addition of new space is the result of a recent Series-C funding of $35 million, ABS Partners Real Estate said in an announcement about the expansion, and brings General Assembly’s total square footage to 40,158 square feet. Since 2012, ABS Partners Real Estate and a group of investors have owned the building. Read More

Lease Beat

Nonprofit Signs Flatiron District Lease [Updated]

915 Broadway

Science and mathematics education nonprofit Math for America will move its headquarters 500 feet west to ABS Partners Real Estate‘s 915 Broadway on the corner of 21st Street in the Flatiron District through a 11-year, 21,536-square-foot lease, ABS Partners announced this morning.

The nonprofit that assists educators and institutions will relocate from 160 Fifth Avenue to a space on the 16th and 17th floors of ABS Partners’ 20-story building with asking rents of $80 per square foot, company officials said. Read More


Extell Hotel Rumors Swirling Around Diamond District

2 West 47th Street

With 100 tenants either moved out or in the process of moving out of 2 West 47th Street in Midtown’s Diamond District, business owners and brokers in the area are speculating about what will become of the building with few definitive answers available.

As whispers swirl around the district about a potential hotel on the building’s footprint via a lot assemblage by Extell Development Company, nobody seems to know for sure what will become of the building that once housed ABS Partners Real Estate’s jewelry exchange on the ground floor and top jewelry designers like Sasha Primak in the floors above. Read More

The Lobby

Tech-Centric Broker Ashkán Zandieh Leaving ABS Partners

Ashkan Zandieh

The founder of a network of tech-savvy real estate websites is leaving his current post as the director of the creative and start-up advisory division at ABS Partners Real Estate, Commercial Observer has learned.

Ashkán Zandieh, 31, who has spent more than two years at ABS Partners told Commercial Observer he’s elected to focus full-time on Re:Tech, which connects real estate tech start-ups with potential investors and advice for growing as companies while also holding interactive demonstrations and networking events. Read More

Power Broker

EVO’s Ira Fishman Talks About Acquiring Winoker and Growing the Family Business

Ira Fishman

Ira Fishman is walking around his office with carpet and base molding samples in his hand. EVO Real Estate Group President Dana Moskowitz wants his input on the color scheme for the company’s new offices. He says Ms. Moskowitz has better taste than him, but she wants him to weigh in on the color scheme anyway. He is her father after all.

In the end, he agrees with Ms. Moskowitz: White walls and light gray tones (including gray base) with blue accents are the way to go. Read More

Lease Beat

Digital Publisher and Conference Producer Opens Own Offices

20 West 22nd Street

Techonomy Media, a digital publisher and conference producer operating out of a co-working space with its investor, Simulmedia, has opened its own offices on West 22nd Street.

As a result of its recent growth and future strategic plans, Techonomy was looking for a space in the heart of Silicon Alley, which the company said that it found at ABS Partners Real Estate‘s 20 West 22nd Street. Read More

Cover Story, Feature

As Cornell begins to rise on Roosevelt Island, tech industry ponders future

Aerial  rendering of Cornell NYC Tech (source: Kilograph)

Even as the construction process commences on a marquee Roosevelt Island technology project, some tech companies are uncertain about how the industry will fare now that Mayor Michael Bloomberg, a staunch advocate for tech, is out of office. 

As Cornell NYC Tech, the engineering school slated for Roosevelt Island, makes its way through the development process and the city welcomes a new administration, it prompts a question: Will the sustainable applied science and engineering campus—and tech in general—get the same level of attention from Mayor Bill de Blasio as it did from his predecessor, Mr. Bloomberg? Read More

Power Broker

The Tech Whisperer: ABS Partners’ Ashkán Zandieh

Ashkan Zandie (Photo by Will O'Hare)

Before he got involved with a nascent industry on the upswing, Ashkán Zandieh gave a boost to a business in its death throes.

Mr. Zandieh, 30, worked for Universal Republic, at the time an imprint of the giant Universal Music Group label. His role in a band while an undergraduate at Hofstra sparked his interest in the music biz even as digital piracy upended it.

“I went to school full-time and worked at Universal full-time,” Mr. Zandieh said in an interview outside of a Williamsburg coffee shop. “I didn’t sleep a lot.” Read More