Lease Beat

Bliss Moving Downtown With Brookfield Place Office Deal

200 Vesey Street.

Bliss spa is moving its offices from 75 Varick Street to Brookfield Place in a 15,407-square-foot deal, Commercial Observer has learned.

The massage, facial and pedicure chain took part of the 25th floor at 200 Vesey Street in a 10-year deal, according to John V. Wheeler, a managing director at JLL. The asking rent, he said, was in the low-$60s per square foot, and Bliss should be relocating imminently. Read More

The Sit-Down

Brookfield’s Dennis Friedrich is Forging a 7M-SF Empire—and That’s Just One Project

Dennis Friedrich is leading Brookfield Office Properties to Hudson Yards and abroad (Photo: Arman Dzidzovic/Commercial Observer).

Dennis Friedrich, the chief executive officer of the Global Office Division for Brookfield Property Partners, has come full circle.

When he started, the firm was then called Olympia & York, and was opening the World Financial Center (eventually housing Merrill Lynch and American Express). He was yearning to go into marketing, so he helped organize a symposium to lure international firms to the complex. He described it as ending up a failure. Maybe he just needed the right moment to strike. Read More

The Lobby

Brookfield’s Ed Hogan Heads to Vornado

Ed Hogan. (Will O'Hare Photography)

Ed Hogan, the national director of leasing at Brookfield Office Properties, has been hired to oversee leasing at Vornado Realty Trust, Commercial Observer has learned, replacing Sherri White.

The longtime Brookfield executive will be responsible for retail leasing in Vornado’s Manhattan portfolio as well as revamping Penn Plaza, the company’s chief executive officer, Steven Roth, announced in an internal memo obtained by CO. The largest landlord in the area around Pennsylvania Station, Vornado has been planning to make its Penn Plaza holdings more attractive to potential tenants. Read More

Lease Beat

Men’s Dress Shirtmaker Signs Brookfield Place Lease As Complex Officially Opens

$79 men's shirts from Kamakura Shirts (Kamakura Shirts' website).

Kamakura Shirts signed a lease at Brookfield Place yesterday, the day before the Lower Manhattan complex officially opened.

The Japanese men’s dress shirt company’s 699-square-foot space is across the hall from Equinox (opened last month) and sandwiched between a women’s fashion brand that hasn’t been announced and Time Inc.‘s lobby, Edward Hogan, the national director of retail leasing for Brookfield Office Properties, told Commercial Observer during a tour of the partially complete complex yesterday. The lease is for 10 years, he said, noting that asking rents are currently $400 to $500 per square foot. Kamakura Shirts will open in about three months. Mr. Hogan negotiated the deal for Brookfield, along with Stephen Plourde of The McDevitt Company. Craig Slosberg of JLL represented the tenant.  Read More

Feature

Le Opening: Le District is Opening in a Month, Part of Downtown’s Culinary Revolution

OOH LA LA: Le District of Brookfield Place should be a French version of Eataly (Photo: Emily Assiran/Commercial Observer.

Hear ye, hear ye, Downtown office workers: Plan on loosening the notches on your belts in the coming months, because by the end of March (or the beginning of April), Downtown Manhattan’s dining options are about to go into the stratosphere.

The 30,000-square-foot French-themed market and 520-seat dining zone, Le District, will be opening at the newly renovated Brookfield Place in Battery Park City. It will also include a 25-seat fine dining chef’s table concept, set to open in May. Read More

Lease Beat

Law Firm to Make Big Manhattan West Move in 2020

Manhattan West

Bigtime law firm Skadden, Arps, Slate, Meagher & Flom will relocate its New York City headquarters to the Hudson Yards area in the spring of 2020 through a 20-year lease at Brookfield Property PartnersManhattan West complex.

The firm, with 1,600 attorneys in 23 global offices, will move to the planned 2-million-square-foot, 67-story 1 Manhattan West tower at Ninth Avenue and West 33rd Street, a letter of intent signed and confirmed by officials at Brookfield and Skadden Arps says. The building will be part of Brookfield’s 7-million-square-foot mixed-use development. Read More

Lease Beat

R/GA Moving to Brookfield’s 450 West 33rd Street

Rendering of 450 West 33rd Street.

Digital advertising firm R/GA has signed a 173,000-square-foot lease at Brookfield Office Properties450 West 33rd Street, the Wall Street Journal reported.

RGA will occupy the entire 12th floor and part of the 11th floor of the building, also known as Five Manhattan West. The asking rents are now between $78 and $80 a square foot, Jeremiah Larkin, executive vice president and director of leasing for Brookfield, told the Journal. Read More

Lease Beat

1 New York Plaza Scores Five New Retail Concourse Tenants [Updated]

1 New York Plaza.

Brookfield Office Properties has signed leases with five new retail tenants at its 1 New York Plaza within the past six weeks, bringing the 42,000-square-foot retail concourse to 65 percent leased, Commercial Observer has learned.

The new tenants are Starbucks (1,200 square feet), Chipotle (1,800 square feet), Chop’t Creative Salad Company (2,400 square feet), Cobbler Express (950 square feet) and Optometric Arts (950 square feet). Read More

Lease Beat

Jane Street Inks Brookfield Place Lease

250 Vesey Street.

Jane Street Capital has signed a 15-year lease for 114,000 square feet at 250 Vesey Street, sources confirmed with Commercial Observer.

The lease covers a portion of the fourth floor and the entire fifth and sixth floors of the building. The trading firm will relocate to Brookfield Place from One Liberty Plaza, another Brookfield property. Jane Street will pay rent in the mid-$50s per square foot, one source said. Read More

Downtown

Saks Plans Stores, Office Space Downtown

Brookfield Place.

Saks Fifth Avenue is planning two locations in Lower Manhattan, The Wall Street Journal reported. The expansion would include a department store and Saks Off Fifth outlet, along with a potential 400,000 square-foot office space for the department store’s parent company, Hudson’s Bay Co.

The possible site of the department store is Brookfield Place, while the outlet and office-space headquarters may be located at Brookfield’s One Liberty Plaza building, according to the Journal. Read More

Lawsuits

Restaurant, Employees Taking on Giant Brookfield

PJ Clarke's

Employees of P.J. Clarke’s, the steaks and chops chain whose owners slapped Brookfield Office Properties subsidiary WFP Retail Co. with a $40 million lawsuit last month, are digging their heels in against a landlord they say is ruining their business at 4 World Financial Center.

The Battery Park City restaurant’s more than 75 employees are raging about the constant jackhammer noise in the bar, the rotating temporary entrance in front of the eatery and the scaffolding that’s blocked off parts of the patio adjacent to the Hudson River, and with primary owners Phil Scotti and Arnold Penner alleging business has fallen by 50 percent since construction started at Brookfield Place two years ago, the workers expressed solidarity during a rally for employees of the seven-location chain Wednesday night. Read More

Lease Beat

BNY Mellon Signs for 350K at Brookfield Place

225 Liberty Street

Bank of New York Mellon Corp. signed a 20-year, 350,000-square-foot lease to move its sought-after headquarters to 225 Liberty Street at Brookfield Place in Lower Manhattan, the bank and its new landlord, Brookfield Office Properties, announced today.

The news of the seven-floor lease ends a bidding fight between New York and New Jersey to attract the bank that lists $27.9 trillion in assets under custody, as bank officials said the attraction of staying in its longtime home and launching a sunlight-enhanced collaborative working space proved irresistible. Read More

Lawsuits

P.J. Clarke’s Files $40M Lawsuit Against Brookfield

World Financial Center

The owners of upscale restaurant chain P.J. Clarke’s have slapped Brookfield Office Properties subsidiary WFP Retail Co. with a $40 million suit alleging the Brookfield Place developer has driven down its business by 50 percent and tried to force the eatery out of its location at 4 World Financial Center.

Restaurateurs Phil Scotti and Arnold Penner, who, along with a group of investors, own the seven-location steaks and chops chain that started at East 55th Street and Third Avenue in 1884, allege their landlord has purposefully erected sidewalk sheds that block views of the Hudson River and the Statue of Liberty, closed off escalators leading to the restaurant to prevent foot traffic and made life miserable for customers and staff with leaks and noises stemming from constant construction at the site. Read More

Power Broker

Ed Hogan’s Making Manhattan’s Newest Shopping District

Ed Hogan. (Will O'Hare Photography)

It would seem that Ed Hogan’s job at Brookfield Place is nearly complete, but the national director of retail leasing for Brookfield Office Properties told Commercial Observer last week that a new phase is just beginning.

The 35,000-square-foot, 600-seat food hall Hudson Eats is open and nearly leased up, with counters taken by Blue Ribbon Sushi, Sprinkles cupcakes and others. The 25,000-square-foot (plus 10,000-square-foot outdoor area) Le District marketplace is fully leased by HPH restaurant group partners Peter Poulakakos and Paul Lamas. And the 250,000-square-foot retail center is 90 percent spoken for. Read More

The Lobby

Mitch Rudin to Leave Brookfield

Mitch Rudin.

Mitch Rudin will leave Brookfield Office Properties at the end of the month, according to a statement made by the company today.

Mr. Rudin has served as the president and chief executive of Brookfield’s U.S. commercial operations but was faced with a diminished role following the consolidation of Brookfield Office Properties into Brookfield Property Partners, the company said in a statement. The Brookfield executive had played a key role in the development Brookfield Place in Lower Manhattan. Read More