Lease Beat

Pasta Maker’s U.S. Subsidiary Moves Downtown

75 Broad Street.

De Cecco USA, the U.S. subsidiary of Italian pasta maker De Cecco, has signed a 10-year, 5,596-square-foot lease at 75 Broad Street, The Commercial Observer has learned.

The tenant will relocate from 120 East 42nd Street to the fourth floor of 75 Broad Street and pay in the mid-$30s per square foot after five months of free rent, according to data from CompStak.

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Lease Beat

Marketing Agency Signs Lease at Savanna’s 5 Hanover Square


Marketing and branding agency Escalate has signed an 11-year lease for 9,750 square feet across the ground floor and mezzanine of 5 Hanover Square where asking rent is in the mid to high-$30s.

As part of the lease, Escalate will have a private entrance to the building on Beaver Street. The marketing agency will build out its office space with an open layout, according to Andrew Kurd, associate at Savanna, the landlord.

“We’re looking forward to having Escalate in the building,” Mr. Kurd told The Commercial Observer. “We’re excited for them to move in.” Read More

Lease Beat

Law Firm Follows Flock to Broad Street Development’s 61 Broadway


Law firm Rosner Nocera & Ragone, LLP’s signing of a 8,135-square-foot lease at 61 Broadway is the latest in a wave of leases at Broad Street Development’s properties.

Founded by Raymond Chalmé and Daniel Blanco, Broad Street Development has wrapped up 54,000 square feet of new leases and renewals at 55 and 61 Broadway, located in the heart of the Financial District, and which the firm bought in 2004 and 2006, according to the New York Post.

Three of the resent signings at 61 Broadway, including MT2 Network, Rosner Nocera & Ragone and Vincenti & Vincenti, left Sandy-damaged buildings for the property and Mr. Chalmé said asking rents are in the $30s at the building, according to the Post.

“You read a lot about the bigger deals, but the smaller-tenant market’s alive and well,” he said. Read More

Lease Beat

Frank Hirth Renews and Expands at 88 Pine Street

88 pine street

Bean counters Frank Hirth LLC has re-upped its lease at 88 Pine Street for another 10 years, doubling its space in the process.

The international accounting firm will grow from a 6,125-square-foot space to a 13,910-square-foot footprint. Frank Hirth first moved into the building in 2009. The firm works with a host of firms both in the United Kingdom and the United States. Read More

Lease Beat

Gallery Systems Heading Downtown to 5 Hanover Square

Gallery Systems, Inc. will be heading to the Financial District at Savanna’s 5 Hanover Square.

The collection management and web publishing software solutions provider has signed a lease for a 7,225 square foot portion of the nineteenth floor in the historic building. The lease was set for eight years.

“Gallery chose 5 Hanover Square because Read More

Lease Beat

Oxford Economics Moves to 5 Hanover Square


The 300,000-square-foot building on 5 Hanover Square, owned by Savanna, will be the new home for Oxford Economics, USA, Inc.

“Oxford currently has an office in midtown but will vacate their current location and relocate to 5 Hanover,” Andrew Kurd, an analyst at Savanna, noted “[It] will be the tenant’s only New York City presence.”

As Read More

Lease Beat

Digital First Media Moving to 5 Hanover

5 Hanover (Courtesy of

The 300,000-square-foot building on 5 Hanover Square, owned by Savanna, will be the new home for Digital First Media.

Digital First Media will be occupying a 9,800-square-foot suite on the highest floor – 25th floor – in the building. “There will be no offices in the new environment,” said John Paton, CEO of Digital First Media.  Read More