Lease Beat

Lend Lease Takes 12K SF in Midtown for Specific Project

3 East 54th Street.

Lend Lease, a provider of construction services, has signed a five-year lease for 12,000 square feet of additional space in Midtown, Commercial Observer has learned.

Come December, the firm will occupy the majority of the third floor at 3 East 54th Street. The 200,000-square-foot building, which is between Madison and Fifth Avenues, was selected for its proximity to one of Lend Lease’s nearby projects, said Marc Horowitz of Cohen Brothers Realty, who represented the building’s ownership in-house. He declined to elaborate.  Read More

Sales Beat

Charles Cohen Ventures Downtown With Movie Theater Buy

34 West 13th Street.

Cohen Brothers Realty‘s Charles Cohen has bought the Quad Cinema in Greenwich Village. It marks the first time the company’s president and chief executive has closed a deal downtown.

“I’ve never done anything south of 32nd Street,” Mr. Cohen told Commercial Observer. “I thought given its location and its potential and what my purpose is for it, it was ideal.” Read More

Moving

Why Did Sephora Cross the Road in East Midtown?

750 Lexington Avenue.

Come July 1, Sephora USA will be located across the street from its current East Midtown location at the base of Cohen Brothers Realty‘s headquarters at 750 Lexington Avenue, according to Christine Jorg of Crown Retail Services.

The cosmetics chain wanted more square footage on the ground floor than is available at its current digs, at 711 Lexington Avenue, she said, and the new space, at the corner of 60th Street, will allow the store to be confined to the ground floor rather than be spread out over the entire building as is currently the case. Read More

On the Market

Former Borders Store on East 57th Street Nearly Ready for Occupancy

Rendering of 461-465 Park Avenue.

The retail condominium vacated by Borders bookstore at 461-465 Park Avenue is almost ready for occupancy by retail and medical office tenants, Commercial Observer has learned.

Cohen Brothers Realty is putting the finishing touches on what was a 42,600-square-foot Borders at the base of the Ritz Tower on 57th Street in Midtown, according to Marc Horowitz, director of office leasing at Cohen Brothers. Read More

Awards

Charles Cohen Receives French Honor

Charles Cohen.

Charles Cohen, the president and chief executive of Cohen Brothers Realty, has been awarded the Ordre national du Mérite by President François Hollande of France, Commercial Observer has learned. The real estate investor heads the Cohen Media Group, a distributor of foreign and independent films, and is being honored for his commitment and contributions to the French artistic community.

“Response here in the United States to our foreign films, particularly our French classics, has been terrific and I couldn’t be more thrilled accepting this extraordinary honor from the French government,” Mr. Cohen said in a prepared statement. Read More

Lease Beat

Shawmut Renews, Expands at 3 East 54th Street

3 East 54th Street. (Credit: PropertyShark)

Shawmut Design and Construction has signed a 10-year, 40,000-square-foot renewal and expansion on the entire 8th, 10th and 11th floors at 3 East 54th Street.

The construction management will consolidate its office space at 1065 Avenue of the Americas while adding 27,000 square feet to its existing 13,000-square-foot lease at 3 East 54th Street.

Read More

Lease Beat

Software Company Inks 10-Year Deal at 3 Park Avenue

3 Park Avenue

Cintra Software & Service Inc. has signed a 10-year, 8,424-square-foot lease on the 32nd floor of Cohen Brothers Realty‘s 3 Park Avenue.

The Oracle database and business service provider was drawn to the 42-story, orange brick building because of its convenient location and flexible floor plans, with plans to use the space for general and Read More

Lease Beat

Verigold Jewelry Moves US Office to 3 East 54th Street

Courtesy of Cohen Brothers

Verigold Jewelry will be moving to a new office in Midtown.

The jewelry trading company, previously located on the ninth floor of 501 Madison Avenue, will be moving to an 11,735-square-foot office at 3 East 54th Street. The company is a subsidiary of Mumbai-based Renaissance Group and designs, manufacturers, and sells diamond and gem jewelry. Read More