Lease Beat

Pixafy Relocates to 810 Seventh Avenue


Pixafy has signed a 10-year lease for the entire 17,320-square-foot 37th floor at SL Green’s 810 Seventh Avenue, The Commercial Observer has learned. The company will pay rent starting in the mid-$60s per square foot, according to data from CompStak.

Pixafy relocated from 475 Park Avenue South earlier this month after a seven-month, 40-building search for new office space. It is the company’s third relocation since its founding in 2010. Read More

Lease Beat

Google Expands at Chelsea Market


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. Read More

Sales Beat

DivcoWest, Brickman Partnership Acquires Midtown South Properties


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. Read More

Lease Beat

Syracuse University Barrels into Midtown South with 20,000 SF Lease

136 Madison Avenue

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. Read More

The Lobby

Bruce Mosler To Take More Active Role In Global Dealmaking At C&W

Bruce Mosler

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. Read More