On the Market
The Cohen Brothers Realty Corporation tapped Colliers International to fill 200,000 square feet of space at Grand Central Plaza at 622 Third Avenue, Commercial Observer has learned.
The vacant space on floors seven through 11 and in the former Blue Cross building’s tower already attracted interest from a fashion company, a publishing company, an accounting firm, a consulting firm and two software companies, said Robert Tunis, the Colliers broker who is marketing the space along with colleagues Alex Jinishian, Seth Hecht and Eric Ferriello.
Fashion designer Zac Posen has signed a nine-year lease for a 15,200-square-foot space at 3 East 54th Street, Commercial Observer has learned.
The second floor of the Cohen Brothers Realty Corporation-owned building will serve as the luxury womenswear brand’s new headquarters. Asking rent for the space was $50 per square foot.
Talent Partners has signed a 12-year, 32,250-square-foot lease for the entire second and third floors of Cohen Brothers Realty Corporation’s 475 Park Avenue South, Commercial Observer has learned. The tenant is expected to relocate from 115 West 18th Street later this year.
As previously reported, 475 Park Avenue South is undergoing a $40 million renovation. The three-year project, set to be completed this year, has included renovations to the building’s curtain wall, lobby, elevators, corridors and bathrooms.
Charles Cohen, the president and chief executive of Cohen Brothers Realty Corporation, knows he can parachute Marc Horowitz into the middle of a leasing nightmare and Mr. Horowitz will turn the situation around.
“Marc is the most creative, instinctive and resourceful in-house commercial leasing broker I’ve ever been associated with, hands down,” said Mr. Cohen.
HAP Investments has signed a nine-and-a-half year lease for the entire 11,200-square-foot 15th floor of Cohen Brothers Realty Corporation’s 3 East 54th Street, Commercial Observer has learned. Asking rent for the space was in the low-$50s per square foot.
The tenant, a real estate investment and development company, expects to relocate its New York headquarters from 347 Fifth Avenue during the third quarter. HAP also operates an office in Tel Aviv, Israel.
After three-and-a-half years handling leasing in Manhattan, Westchester, Florida and California for Cohen Brothers Realty Corporation, Marc Horowitz has made the jump to senior vice president at the firm.
“Marc has proven his expertise is not limited to a single market and has done an outstanding job in executing over a million square feet of transactions throughout our national portfolio,” President and Chief Executive Charles Cohen said in a prepared statement. “We look forward to his continued success in his new post.”
Cohen Brothers Realty Corporation has leased out nearly 30,000 square feet of space at its 39-acre, 500,000-square-foot office campus at 333 Westchester Avenue in White Plains, The Commercial Observer has learned.
The former home to General Foods Corporation, now anchored by four interconnected mid-rise office buildings, recently welcomed four new tenants.
“We’ve always been host Read More
Charles Cohen is in the business of creating. As the president and chief executive officer of Cohen Brothers Realty Corporation, Mr. Cohen oversees a portfolio of properties and design centers in New York, Florida, Texas and California. He also executive produced the Academy Award-winning Frozen River and runs Cohen Media Group, a distributor and producer of foreign and independent films. Mr. Cohen’s father, Sherman Cohen, the developer who built CBRC into a powerhouse with his two brothers, died late last month at 91. And while Mr. Cohen politely declined to answer direct questions about his father, he did speak to The Commercial Observer about his legacy when discussing recent developments at the firm and in New York real estate. Mr. Cohen also spoke enthusiastically about the film industry and this year’s crop of new movies, which will be in the national spotlight when the Academy Awards airs this Sunday.
The Commercial Observer: In 2011, you told The Commercial Observer that you and the rest of the real estate industry were moving at 25 miles per hour. What was the speed in 2012?
Mr. Cohen: In New York, we’re going twice as fast as last year, but not fast enough.