Lease Beat

116 Nassau Draws Trio of Tenants to Big Chunk of Building

116 Nassau Street.

Three companies have leased almost 26,500 square feet of office space at 116 Nassau Street, Commercial Observer has learned.

Commercial real estate investment firm Park Row South Nassau Street LLC inked a deal last week for 11,365 square feet on the eighth floor in the 12-story building—moving from 1 Beekman Street, according to Coldwell Banker Commercial Alliance, the landlord’s representative in the lease. The New York City Gay and Lesbian Anti Violence Project recently signed a lease for 9,000 square feet on the third floor at the property, relocating from Midtown, and TAP Electrical Contracting Service inked a deal for 6,134 square feet on the ninth floor. Read More

Lease Beat

APF Properties Leases Over 13,000 Square Feet at New York Gallery Building

24 West 57th Street. (PropertyShark)

APF Properties has signed four leases totaling over 13,000 square feet at 24 West 57th Street, also known as the New York Gallery Building, Commercial Observer has learned.

Asking rent for all of the spaces is in the mid-$60s per square foot, with lease terms longer than five years, Kenneth Aschendorf, a principal of APF Properties, told CO. The Gallery Building is now more than 95 percent leased. 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

Lease Beat

Hedge-Fund Firm Renews Lease with Outdoor Space at 632 Bway

632 Broadway in 1929.

Investment firm Serengeti Asset Management has renewed its lease, which includes a 3,000-square-foot private roof deck, at 632 Broadway.

The company, with a $1.5 billion portfolio of debt and equity investments under its management, occupies 11,750 square feet of indoor space spanning the entire 12th floor at the building, which is between East Houston and Bleecker Streets. The new top-floor lease expires April 30, 2019, said Nora Stats of Coldwell Banker Commercial (CBC) Alliance, who represented both Serengeti and the landlord, Renaissance Properties, in the transaction. The original lease was for seven years. Read More

The Lobby

Industry Vet Corey Abdo Joins Coldwell Banker Commercial Alliance

Corey Abdo

Veteran Manhattan broker Corey Abdo has joined Coldwell Banker Commercial Alliance as an executive managing director of leasing and sales in its New York City offices, Commercial Observer has learned.

Mr. Abdo, who has negotiated more than two million square-feet of real estate transactions over a career spanning 25 years, will continue to provide both owner representation and tenant advisory services to clients throughout the Metropolitan area. Read More

Mergers and Acquisitions

Coldwell Banker Commercial Alliance Acquires Tarter Stats O’Toole


Coldwell Banker Commercial Alliance has acquired commercial real estate brokerage Tarter Stats O’Toole, The Commercial Observer has learned. The firm, which specializes in landlord representation, has joined CBC Alliance’s growing New York office.

The deal is the result of a year of work, during which CBC Alliance evaluated a number of firms for potential acquisition. In the end, it was TSO’s track record of performance and growth in agency work which led to advanced discussions.

Read More

Lease Beat

Architecture Firm Signs Deal at 31 Penn Plaza

31 Penn Plaza

Architecture firm RMJM has signed a seven-year, 5,085-square-foot lease on the sixth floor at 31 Penn Plaza, the landlord announced earlier this week.

Headquartered in Britain, RMJM operates offices worldwide, including Hong Kong, Edinburgh, London, Abu Dhabi and Bahrain. The firm’s portfolio includes a number of high profile projects, such as the New Scottish Parliament in Edinburgh, the Gazprom Tower in St. Petersburg and the banking headquarters for China Merchants Bank in Shanghai. Read More

Lease Beat

Enclos Corp Expands at the Empire State Building

(Credit: Al Barbarino)

Enclos Corp., a façade engineering, design and manufacturing firm, has expanded at the Empire State Building, signing a five-year, 4,705-square-foot lease on the 76th floor. Asking rent for the pre-built space was in the mid-$50s per square foot.

“Taking more space at the Empire State Building is an important statement for any nationally-based company,” said Thomas Sullivan, executive managing director at Coldwell Banker Commercial Alliance, who represented the tenant, in a prepared statement. Read More

The Lobby

CBC Alliance Forms Asset Management Division, Hire Steve Pressler and Joanne Agoglia


Coldwell Banker Commercial Alliance is launching an asset management division and has hired Steve Pressler and Joanne Agoglia to lead it, The Commercial Observer has learned. The team will provide management and leasing services to local landlords.

Mr. Pressler and Ms. Agoglia have worked together for over 20 years, and have leased and managed buildings including 509, 590, 609, 720 and 724 Fifth Avenue; 803 and 824 Madison Avenue; and 180-182 Broadway. Read More

Lease Beat

ComiXology Expands in Gotham City With Lightning Speed


ComiXology seems to be growing with the speed of The Flash as it expands its footprint across Gotham City with another space upgrade and relocation to 512 Seventh Avenue.

The 7-year lease for the 21,945-square-foot office, between 37th and 38th Streets, is the third lease the company has signed in the city – since it was founded in 2007 – as it accommodates for continued growth.

“They are growing very rapidly and have a terrific app that is really just controlling the market,” said Michael Okun, a senior managing director at Coldwell Banker Commercial Alliance, who represented the tenant in all three leases, noting that asking rents at the new space were in the mid-$40s per square foot prior to negotiations. Read More

Lease Beat

Rock Shrimp Productions Inks Deal At 115 Broadway In Latest Media Move Downtown

115 Broadway

Rock Shrimp Productions signed a lease for a 10,000-square-foot second floor space at 115 Broadway, between Thames and Cedar Streets, the latest evidence of media and tech migration to Lower Manhattan.

The company behind several series featuring chef Bobby Flay (Boy Meets Grill, Throwdown) is moving from Hudson Square, a neighborhood more often associated with production and technology firms.

Michael Okun and Peter Sabesan of Coldwell Banker Commercial Alliance represented the tenant. Brad Gerla and Adam Foster of CBRE represented the owner, Capital Properties. Read More