Google has completed a deal to expand its presence at Chelsea Market by approximately 90,000 square feet, a source familiar with the deal confirmed with The Commercial Observer.
The tech giant’s total space at the Market will now total about 250,000 square feet. The new space is spread throughout the building, according to the source.
News of the lease was reported by the New York Post earlier this week. According to an earlier report by Crain’s, the deal includes a sublease of market research firm GFK’s fifth-floor space of 58,523 square feet.
A partnership between San Francisco-based DivcoWest and Brickman Associates has purchased a group of office buildings in Midtown South at 24-28 West 25th Street and 40 West 25th Street, it was announced today. The closing price on the portfolio was approximately $115 million.
DivcoWest is entering the New York market for the first time, James Murphy, executive managing director at Colliers, who represented the seller, Yeshiva University, told The Commercial Observer. The firm focuses on assets and markets with a high concentration of technology tenants.
“With the growth of the tech industry, it is the right time to enter the market,” Mr. Murphy said.
As the city braces for its next snowstorm, Syracuse University is barreling from snow-coated Syracuse, New York towards Midtown South, where it will stomp a 20,000-square-foot footprint at 136 Madison Avenue.
The university plans to use the second floor of the 17-story, 150,000-square foot art deco building as a hub for academic programs and internship opportunities that will compliment alumni activities already housed at its Lubin House on East 61st Street, said a source familiar with the deal.
The Lubin House serves as the university’s regional admissions office, a gathering place for visiting faculty and alumni, and home to discussion panels, an art gallery and a division of its drama school.
In an exclusive conversation with The Commercial Observer, Cushman & Wakefield’s CEO Glenn Rufrano and Bruce Mosler, a top leasing executive at the company, revealed that Mr. Mosler will take on a greater role overseeing global dealmaking at the firm.
Mr. Mosler is C&W’s chairman of global brokerage and his title will not change, but Mr. Rufrano said he will help manage multinational accounts to coordinate which personnel are engaged in servicing such clients and to make sure the company’s various service lines such as property and project management, consulting and appraisal are being appropriately engaged where necessary.
Hill Betts & Nash LLP have signed a five-year lease for an office at One World Financial Center.
The law firm signed a 11,518-square-foot lease on the 26th floor of the building. The floor is shared with Ronin Capital, a finance firm that occupies the remaining 11,297 square feet of the floor.
Ted Rotante of Colliers Read More