Lease Beat

Three Leases Signed at 30 Cooper Square

30 Cooper Square. (PropertyShark)

Three leases have been signed for a combined 45,500 square feet of space at 30 Cooper Square, according to a release issued by Cassidy Turley.

Cooper Union, a privately funded college with administrative offices in the building, renewed its lease of 26,000 square-feet of space with a term upwards of five years, according to a representative for Cassidy Turley, while two, new 10-year leases have been signed by 72andSunny Partners and S Plus, Inc. Read More

On the Market

Penthouse Office at 277 Park Ave Hits the Market

277 Park Avenue.

For the first time in half a century, the 50,000-square-foot duplex penthouse office at 277 Park Avenue is available for lease, Commercial Observer has learned.

The space, located on the 49th and 50th floors of the building, has been occupied by Continental Grain Company, which is consolidating operations and moving to the General Motors Building. Asking rent for the space is $125 per square foot and occupancy is expected for the first quarter of next year. Read More

Lease Beat

Creative Agency Relocates to 42 West 39th Street

42 West 39th Street. (PropertyShark)

Creative agency 87AM has signed a two-year-10-month sublease from Perry Ellis at 42 West 39th Street, Commercial Observer has learned.

The tenant moved in to its new 10,092-square-foot space on the fourth floor of the building in April. 87AM had previously been based at 321 West 44th Street and in addition to New York, operates offices in Chicago, Las Vegas and Los Angeles. Read More

Lease Beat

Four Leases Signed at 360 Lexington Avenue

360 Lexington Avenue.

An expansion deal for Analytics Partners is among a set of four leases recently signed at AEW Capital Management’s 360 Lexington Avenue, Commercial Observer has learned. The marketing consulting firm, which previously occupied space on the building’s 17th floor, has signed a four-year lease for 4,739 square feet on the 16th floor.

The lease was announced concurrently with a 4,225-square-foot deal for ACCIÓ, the Agency for Competitiveness for Companies in Catalonia, and a 4,218-square-foot lease for Corporate Risk Solutions. The tenant in the fourth deal, an electrical contractor, signed a a 7,986-square-foot lease on the sixth floor and declined to be identified. Read More

Cover Story

Breaking Barriers: Richard Bernstein and Peter Hennessy on Cassidy Turley’s Star Turn

Richard Bernstein and Peter Hennessy. (Photo: Mike Nagle)

“If I could knock this wall down I would,” said Peter Hennessy, pointing through a glass enclosure that separates his office from a row of open workstations within the 42nd floor of Cassidy Turley’s 277 Park Avenue offices.

Mr. Hennessy, the tristate president at the firm, will likely get his wish if Cassidy Turley continues to literally and figuratively break down the barriers that once separated its business lines by expanding the consulting practice that he and Richard Bernstein, the firm’s executive vice chairman and principal, said is crucial to the company’s future. Read More

Lease Beat

Lebenthal Wealth Advisors Inks Helmsley Building Sublease

230 Park Avenue.

Lebenthal Wealth Advisors has signed a six-year, 43,295-square-foot sublease from HSH Nordbank at the Helmsley Building at 230 Park Avenue, Commercial Observer has learned.

The subtenant will sublease the 31st and 32nd floors of the building while HSH Nordbank consolidates and relocates to the 34th floor. The sublandlord, a northern European commercial bank headquartered in Hamburg, Germany, operates its capital markets, shipping and restructuring business units in New York. Read More

Lease Beat

Sixth Tech-Related Tenant Leases at 292 Madison

292 Madison

Technology-focused venture capital firm Greycroft Partners has taken the entire 6,035-square-foot 20th floor at 292 Madison Avenue, Commercial Observer has learned. It’s a new lease for the firm, which focuses on investments in early-stage companies, primarily in the digital media sector.

The asking rents were in the high-$50s, according to a spokesperson for the asset manager, Herald Square Properties, which oversees the property on behalf of the landlord, Marciano Investment Group. Read More

Lease Beat

FIT Inks Deal at 333 Seventh Avenue

333 Seventh Avenue. (Credit: PropertyShark)

The Fashion Institute of Technology has signed an 18-year, 55,000-square-foot lease at 333 Seventh Avenue.

The Samco Properties-owned building is located across the street from the college’s campus on West 27th Street and the design school will relocate its administrative there. Asking rent for the property was in the $40s per square foot, according to a statement announcing the deal. Read More

Leasing Report

Nonprofit, Public Sectors See Uptick in Leasing Activity [Updated]

cassidy-turley-logo

The nonprofit and public sectors finished 2013 with a bang when it came to leasing in New York City.

The two sectors leased more than 5.7 million square feet in 2013, a 36 percent increase from 2012, and more than double the space leased in 2011, according to Cassidy Turley‘s 2013 nonprofit and public sectors leasing activity report released exclusively to Commercial ObserverRead More

Lease Beat

Real Capital Analytics Signs 110 Fifth Avenue Deal

Courtesy of Samson Management

Commercial real estate data provider Real Capital Analytics has signed a 10-year, 16,282-square-foot lease at 110 Fifth Avenue. Asking rent at the Midtown South building, which is now 100 percent leased, is $65 per square foot.

“Real Capital Analytics is expanding and is now able to plan for future growth over the next several years while containing their occupancy to one floor,” said Adam Ardise, senior vice president of Cassidy Turley, who represented the tenant, in a prepared statement. “After an extensive search, RCA decided to sign at the first property we ever toured, in part because of its great location and in part because of the Stanford White architectural design.”

Read More

Lease Beat

Limelight Networks Signs Lease at Savanna’s 100 Wall Street

100 Wall Street.

Limelight Networks has signed an eight-year, 4,071-square-foot lease for a portion of the fifth floor at Savanna’s 100 Wall Street, The Commercial Observer has learned.

The new lease follows on the heels of an announcement in October that El Al Airlines, the national airline of Israel, had signed a 10-year, 14,918-square-foot lease on the fourth floor at Lower Manhattan property.

Read More

Lease Beat

Law Firm Signs Huge Renewal Downtown

One Battery Park Plaza

Hughes, Hubbard & Reed has signed a 226,416-square-foot lease at Rudin Management Company’s One Battery Park Plaza – one of the largest Lower Manhattan deals of the year, which follows a surge in demand for big blocks of space.

The international law firm’s 20-year lease spans nearly 11 floors, comprising floors 10 through 18, a Read More