Lease Beat

Xerox Takes Additional 14,000 SF at 485 Lexington

485 Lexington Avenue (Credit: SL Green)

New York-based management consulting firm Novantas LLC has subleased 14,000 square feet to Xerox Corporation at 485 Lexington Avenue, sources said.

Novantas subleased the entire 22nd floor to the printer and photo-copying equipment company, which already occupies substantial subleased square footage in the building after signing a lease with Citibank there last summer.

“As part of our ongoing representation of Novantas as its real estate service provider, our execution of a sublease with Xerox represents a successful transaction for both parties,” said Jonathan Serko from Cushman & Wakefield, who represented Novantas in the transaction with Andrew Ross and Richard Serko, in a statement.  “We continue to see activity with our clients in many sectors including financial, media, tech, and health care to name a few.” Read More

Lease Beat

Accounting Firm EisnerAmper Amps Things Up at 750 Third Avenue

750 Third Avenue

Accounting firm EisnerAmper has signed a lease renewal and expansion at 750 Third Avenue, The Commercial Observer has learned.

The eight-year lease solidified the firm’s existing 138,000 square feet across floors 13 through 17 and 21, while adding 12,000 square feet on the 22nd floor.

“They have a dynamic, growing practice,” said Newmark Grubb Knight Frank Vice Chairman Mark Weiss, who represented the tenant with Rob Eisenberg and Robert Emden.

“It’s a good building, near Grand Central and with great functionality – and the landlord has been very reliable,” he added, referring to SL Green Realty Corp. Read More

Lease Beat

Focus Financial Partners Takes Nearly 12,000 SF at 825 Third Avenue

825 Third Avenue

Focus Financial Partners has signed an 11,923-square-foot office lease at The Durst Organization’s 825 Third Avenue in Midtown East.

The partnership of wealth management firms relocates to the 40-story, 544,000-square-foot office tower from the 7,400-square-foot space it previously occupied at 909 Third Avenue.

“The building offered a well-priced alternative along Third Avenue with great light, city views and an efficient floor plate configuration,” said Greg Kraut, principal and managing director of Avison Young’s New York City office in a statement, who represented the tenant with Dana Trulis and Paul Massey.  “We are very pleased to have been able to identify a new office location for Focus that effectively addresses the firm’s business needs… this area of Third Avenue has become a destination for companies in search of value in a strategic Midtown locale with great access to transportation.” Read More

Lease Beat

Macy’s Expands, Renews For A Total 197,000 Square Feet At 1440 Broadway


Monday Properties announced the 31,700-square-feet expansion of Macy’s, Inc. at 1440 Broadway, the building Monday Properties owns and operates on the southern fringe of Times Square at 40th Street.

It was the storied 150-year old retailer’s third expansion in two years at the 25-floor office building, and gave it full occupancy of the 10th floor, which Advance Magazine Publishers had  subleased to Skadden Arps since 2006. CBRE Vice Chairmen Scott Gottlieb and Michael Laginestra represented the tenant, while Monday Properties Director Jordan Berger represented the owner. Read More