Lease Beat

Growing IT Firm Moving to 630 Third Avenue


Technology and strategic consulting firm Kraft & Kennedy is relocating to a new headquarters space at 630 Third Avenue, The Commercial Observer has learned.

The provider of business and IT services to law firms, corporate legal departments and financial services firms has signed a 15-year, 10,224-square-foot lease comprising the entire 14th floor at the ATCO Properties Read More

Lease Beat

Government of Slovenia Relocates Its Mission in New York

Courtesy of Rubenco

The Government of Slovenia is relocating its New York office, The Commercial Observer has learned.

The southern Central European country will be moving its Permanent Mission of the Republic of Slovenia to the United Nations from 600 Third Avenue to 630 Third Avenue. The new office will be comprised of the entire 20th floor, approximately 5,829 square feet on the corner of 41st Street. Read More

Year in Real Estate

A King-Sized Deal In Brooklyn Marked the Biggest Investment Sale of the Year


Brooklyn malls don’t usually come to mind as the city’s highest-grossing commercial real estate. But this year was different, with 5100 Kings Plaza, a k a the Kings Plaza Mall, taking the top spot among citywide sales when it sold for $751 million earlier this month.

It wasn’t just the biggest sale of the year—it was the biggest outright, single-trade sale in Brooklyn ever, according to data provided by Massey Knakal Realty Services. Read More

Cover Story

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


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

Lease Beat

Avantus Renal Therapy Leases 23,000 Square Feet in Harlem


Avantus Renal Therapy has signed a 15-year, 23,000-square-foot at 1361 Amsterdam Avenue, a 130,000-square-foot, 5-story office building in the Manhattanville section of Harlem.

The kidney dialysis company — part of largest kidney dialysis corporation in the country — is building out the entire 2nd floor and a portion of the ground floor, where a separate entrance and reception area will be located, said Arthur Draznin, an executive managing director with Newmark Grubb Knight Frank who represented owner Janus Properties. Read More