ICSC NYC 2014

Southampton Fitness Apparel Shop Opens Pop-Up in Flatiron District

Bandier has opened a pop-up shop in the Flatiron District.

Bandier, an upscale multi-brand fitness apparel shop on Main Street in Southampton, has opened through a short-term lease in Manhattan.

Bandier signed a six-month lease at the beginning of November and moved in the same day at 915 Broadway, ABS PartnersJohn Brod told CO at his firm’s International Council of Shopping Centers’ New York National Deal Making Conference booth today. He and a team represented the landlord in-house. Mr. Brod along with his daughter, ABS broker Jennifer Bernstein, represented Bandier. Read More

Lease Beat

Education Nonprofit to Move Off Campus in Harlem

340 St. Nicholas Avenue

The Harlem chapter of national student service provider Say Yes to Education will relocate from the Teachers College of Columbia University in Morningside Heights to Central Harlem in January through a five-year, 5,095-square-foot lease at the Richman Group’s Balton building, Commercial Observer has learned.

The move will expand the nonprofit’s footprint with an office space on the ground and lower levels of the new 156-unit residential building at 340 St. Nicholas Avenue where asking rents ran for $32 per square foot, officials with ABS Partners Real Estate said. The tenant picked the space for both its setup and whereabouts on the northeast corner of West 127th Street, said Mark Tergesen, a senior managing director at ABS. Read More

Lease Beat

Success Academy Sublets Harlem Office

310 Lenox Avenue

The YAI Network, a nonprofit service provider helping individuals with intellectual and developmental disabilities, has opened an 8,449-square-foot location for one of the nonprofit’s pre-employment and community service programs in a second-floor office space the nonprofit subleased from Success Academy Charter Schools at the NBA Player Association‘s building at 310 Lenox Avenue in Central Harlem, ABS Partners Real Estate announced last week.

The 57-year-old organization with eight affiliates in the New York metropolitan area, Puerto Rico and the U.S. Virgin Islands has occupied the space between West 1125th and West 126th Streets where it helps adults learn job-related skills, said Sandy Speiser, YAI Network’s director of program development. Read More

Lease Beat

Law Firm Signs For Midtown East Space

33 East 33rd Street

The Jerry M. Feeney residential real estate law firm will expand into a space in the southern section of Midtown East through a five-year, 5,850-square-foot sublease at Elk Investors33 East 33rd Street, Adams & Co. and ABS Partners Real Estate announced today.

The firm will move from 303 Fifth Avenue to a space vacated by the Converge Direct marketing company with asking rents of $48 per square foot, said Alan Bonett of Adams & Co. Read More

On the Market

ABS Partners Showcases Flatiron District Flagship

ABS Partners

ABS Partners Real Estate showed off an 11,800-square-foot Flatiron District retail space at 915 Broadway between East 20th and East 21st Streets in a party for brokers last night.

The available space, in a building owned by ABS Partners and a group of investors, offers 8,000 square feet of ground-floor space with 19-foot ceilings and 3,800 square feet on the mezzanine level. Read More

Lease Beat

French Tech Firm To Open First U.S. Office [Updated]

535 Eighth Avenue

French digital human resources form company PeopleDoc is currently moving into its first U.S. office in the Garment District through a 5-year, 6,232-square-foot sublease in Olmstead Properties535 Eighth Avenue, ABS Partners Real Estate announced yesterday.

The firm will take space vacated by Adelhardt Construction Corp. in the construction company’s move downtown to 1 Pennsylvania Plaza, as the tech firm will occupy the entire 18th floor of the 21-story building between West 36th Street and West 37th Street with asking rents in the $40s per square foot, said Audrey Novoa of ABS Partners. Read More

Lease Beat

Tech Firm Renews, Expands at Jamestown’s 1250 Broadway

1250 Broadway. (PropertyShark)

Varonis Systems has renewed its existing 15,356-square-foot lease at 1250 Broadway, according to landlord Jamestown. Concurrently, the business technology firm expanded its footprint in the building, signing a 10-year lease for 30,712 square feet on the 28th and 29th floors.

“Broadway between the Nomad District and Flatiron is quickly becoming a burgeoning and dynamic area for many tech, media and creative companies,” said Michael Phillips, the chief operating officer of Jamestown, in a prepared statement. “Varonis Systems expanding within 1250 Broadway further indicates that the NYC tech corridor is beginning to stretch north into Midtown.” Read More

The Lobby

Former Thor, RFR Exec Jumps to Handler

RichardFarley_New

Handler Real Estate Organization has named Richard Farley executive vice president and chief operating officer of the firm’s brokerage division, The Commercial Observer has learned.

Mr. Farley will be charged with spearheading Handler’s third-party brokerage efforts, on which the firm has placed increased emphasis.

Read More

Lease Beat

Makeshift Society Opens New York Location

Courtesy of Brownstoner

Makeshift Society is opening its first New York outpost.

The San Francisco-based Makeshift Society will open its first co-working space in Brooklyn. The society generally attracts creative professionals that thrive in a collaborative and community-minded environment under the objective goal to “make, learn, teach, and think.”

The new space will span 5,775 square feet on the Read More

Market Reports

Commercial Space Tight as Tech Continues to Surge in Flatiron: Report

One Madison

Buoyed by the area’s burgeoning tech scene and growing residential market, the Flatiron/23rd Street Partnership Business Improvement District this morning presented its third annual report to a room of brokers and indicated available commercial space in the district is sparse.

With more than 200 commercial office buildings offering upwards of 22 million square feet of rentable space, Flatiron’s overall vacancy rate sits at just 6.96 percent, with only 1.55 million square feet available for lease. The average price per square foot of that space hovers just below $50 at $49.10. Read More

Lease Beat

Creutzfeldt-Jakob Foundation Relocates to New York

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The Creutzfeldt-Jakob Disease Foundation, a non-profit organization supporting Creutzfeldt-Jakob Disease patients and their families, has arranged a lease to relocate its headquarters from Akron, Ohio to New York, The Commercial Observer has learned.

The foundation closed a 2,205-square-foot deal at 341 West 38th Street, Scott Galin, principal at Handler Real Estate, said yesterday.

The foundation moved into the new space in mid-January, according to Florence Kranitz, president of the Creutzfeldt-Jakob Disease Foundation. Read More

Midtown South

Midtown South Submarket May Have Peaked

A view of lower Manhattan

With rents on a high and vacancy rates inching upward, the Midtown South commercial market may have reached its healthiest point.

Both Midtown and Midtown South – perhaps the tightest market in the country –experienced an increase in vacancy rates this past year, according to numbers released Monday by Cushman and Wakefield, rising to 10.3 Read More

Sales Beat

More Luxury Condos Coming to Greenwich Village

12 East 13th Street will be converted to luxury condos.

East 13th Street, LLC., – a partnership of DHA Capital and Continental Properties – has closed on the purchase of a 45,000+ square foot parking garage in Greenwich Village. The property, which sold Dec. 5 for $32 million at slightly more than $700 per square foot, is located at 12 East 13th Street and will Read More