Lease Beat

DEA Moving to Brookfield Place

250 Vesey Street.

The Drug Enforcement Administration’s New York Organized Crime Drug Enforcement Task Force (OCDETF ) Strike Force reportedly signed a lease for 56,000 square feet at 250 Vesey Street, one of the five office towers that make up Brookfield Place.

The OCDETF Strike Force is taking the entire 19th floor and will move upon the expiration of its current lease at 85 10th Avenue. Read More

Lease Beat

StreetEasy Slated to Move Into Bigger Space [Updated]

130 Fifth Avenue

Residential listings database StreetEasy is moving to the Flatiron area from Soho, six months after being acquired by Zillow, The Real Deal first reported.

Zillow signed a 13,300-square-foot lease for StreetEasy on the ninth floor of 130 Fifth Avenue at 18th Street. The per-square-foot rent, TRD said, was in the mid $60s. Zillow will be joining Fresh, which is on the 10th and 11th floors and Brown Harris Stevens, which has the entire second floor. Read More

Tech Beat

View the Space to Launch Mobile Platform

View the Space's Andrew Flint (left), the head of business development, and Ryan Massiello, the chief revenue officer with the new mobile app on his phone

Commercial real estate leasing startup View the Space is preparing to introduce a mobile reporting platform, Commercial Observer has learned.

Next week, the real-time data provider, which aims to streamline the leasing process for brokers and landlords, will introduce the mobile platform for iPhone and iPad after beta testing the product for the last couple of weeks. Read More

Lease Beat

Twitter Inks Deal for New York City Headquarters

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Twitter has leased 141,000 square feet of space for its New York City headquarters at Savanna’s 245 and 249 West 17th Street in Chelsea.

Landing the major tenant is a big payoff for Savanna, which purchased the properties in November 2012 for a reported $76 million and re-launched them in November 2013 following a $21 million overhaul.  

Read More

Lease Beat

Huntsworth Health to Relocate Agency to 101 Sixth

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Huntsworth Health, a family of companies focused on the healthcare sector, has signed a 10-year, 15,600-square-foot lease for the entire 13th floor at Minskoff Equities101 Sixth Avenue, where asking rents are $70 per square foot.

The company’s evoke interaction agency, a healthcare marketing firm, will relocate from its 13,000-square-foot, two-floor space at 920 Broadway. The subsidiary, whose client roster includes Genentech and Pfizer, also operates offices in Philadelphia and Boston. Read More

Lease Beat

ADCO Group Takes High-End Space at 450 Park

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ADCO Group has signed a three-and-a-half-year, 10,800-square-foot lease for its relocation to Somerset Partners’ 450 Park Avenue.

The 33-story, 334,404-square-foot black granite tower with 10,300 to 10,800-square-foot floor plates stands beside such Class A office buildings as The Seagram Building, Lever House and 500 Park Avenue, likewise catering to top-tier boutique firms who covet full Read More

Leasing Assignments

NGKF Takes Over as Leasing Agent at One Liberty Plaza

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Newmark Grubb Knight Frank has been hired as the leasing agent for One Liberty Plaza, landlord Brookfield Office Properties announced today.

“We are pleased to have the Newmark Grubb Knight Frank team in place to help us lease the upcoming block at One Liberty Plaza,” said Jerry Larkin, the senior vice president of leasing at Brookfield, in a prepared statement. “The building’s direct access to Fulton Street Transit Center and the World Trade Center Transit hub, its column-free space, ample infrastructure and spectacular views provide a unique value opportunity for prospective tenants.” Read More

Lease Beat

Angelo Gordon Adds 34K at 245 Park Avenue

Courtesy of Patrick Daniels

Angelo Gordon has tacked on a 34,000-square-foot addition to its office at 245 Park AvenueThe Commercial Observer has learned.

The deal is the firm’s second expansion in the last year. Angelo Gordon initially added about 20,000-square-feet to its 55,000-square-foot occupancy last June bringing them to a total of 74,000-square-feet. Read More

Lease Beat

Sportswear Label Under Armour Headed to Surging Starrett-Lehigh Building

The Starrett-Lehigh Building

Under Armour, maker of form-fitting sportswear, will squeeze into a new space after inking a 19,000-square-foot deal in the Starrett-Lehigh Building at 601 West 26th Street, an address primed to profit from the sizzling Midtown South market and massive Hudson Yards development.

The 10-year lease will bring the tenant to part of the 15th floor of the 20-story building occupying the entire block between 26th and 27th Streets and 11th and 12th Avenues. It’s Under Armour’s first NYC space. Read More

Lease Beat

All in the Family: Construction Company Secures New York Office

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LPCiminelli Inc., a Buffalo-based construction company, has signed a 5-year lease for 5,836 square feet on the 35th floor of 1250 Broadway. Asking rents were in the mid-$50s per square foot.

The deal with brokered on the tenant side by Kyle Ciminelli, managing director at Newmark Grubb Knight Frank and nephew of the LPCiminelli’s owner, Louis Ciminelli.

“Representing a family member is always fun,” Mr. Ciminelli told The Commercial Observer. Read More

Midtown South

Midtown South: What a Difference a Decade Makes

Angelo & Maxie's at 233 Park Avenue South

A decade ago, a walk down Fifth Avenue near 17th Street would have included a stop at advertising firm Geer DuBois, and a walk farther north on Park Avenue South would have culminated in a visit to Angelo & Maxie’s Steakhouse.

Both were pioneering tenants, willing to take a chance on the less desirable precincts of Midtown South—and both are gone. Read More

Lower Manhattan 2013

Keeping Pace: As One-Time Commuter School Expands, Retailers and Students Clamor for Space in Lower Manhattan buildings

140 William Street

When David Falk toured Pace University’s new dormitory at 180 Broadway in January, he was struck not only by the gleaming facilities but also by what they said about the 107-year-old school.

Mr. Falk, the New York tristate region president of Newmark Grubb Knight Frank, has worked with the university since 1999. The new building “is beautiful,” Mr. Falk said. “It’s the new Pace.”

The transformed school has helped alter the real estate landscape of lower Manhattan. In the past 15 months, Pace has inked deals for the entire 47,000 square feet at 140 William Street, renewed a 32,707-square-foot office lease at 156 William Street, and, with partner SL Green, announced plans for a 30-story dormitory at 33 Beekman Street.

The 220,000-square-foot 180 Broadway—also a joint project with SL Green—came to light in the darkest days of the recession. Pace wanted to bring about 600 beds back to its lower Manhattan campus from Brooklyn Heights. Read More

Lease Beat

Eileen Fisher Renews, Expands at 111 Fifth Ave.

111 fifth

Eileen Fisher has renewed and expanded its lease at 111 Fifth Avenue. The retailer has signed a 15-year lease, adding the entire 19,000-square-foot sixth floor.

Asking rents for lower Fifth Avenue are in the low $60s per square foot, according to David Falk, president of the New York Tri-State region at Newmark Grubb Knight Frank, who represented the tenant. Eileen Fisher will now occupy a total of 62,000 square feet in the building.

Read More

Lease Beat

Google Expands at Chelsea Market

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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

Lease Beat

Marketing Firm Merkle Takes 30,000-Square-Foot Sublease In Random House Tower

1745 Broadway

Random House continued its successful campaign to dispose of space in its namesake building at 1745 Broadway by leasing 30,000 square feet to the marketing firm Merkle.

David Falk and Jason Greenstein of Newmark Grubb Knight Frank represented the tenant. Richard Bernstein of Cassidy Turley represented the sublessor.

“We’ve subleased eight floors out of ten and disposed of about 218,000 square feet,” Mr. Bernstein said of the campaign that “started in earnest about a year ago.” Read More