REBNY 2015

REBNY 2015 Honoree Glen Weiss

Glen Weiss.  (Illustration by Russ Tudor)

When Glen Weiss first walked into 11 Penn Plaza as a porter he had no idea he was starting his career. His dad was a property manager for a client of the Mendik Company, who operated the building and sought help in the summers to give vacation time to their regular porters and engineers. To the 16-year-old aspiring sportscaster this was simply a way to make money. Mr. Weiss commuted from Old Bridge, N.J., by bus with his dad, leaving around 6 a.m. “It was always in the dark,” he laughed. That was 1986. And much is still the same.

Mr. Weiss still leaves his home in the dark, though he now lives in Livingston, N.J., with his wife and their three daughters, and his transportation is his car. And he still works for the same company, so to speak. Vornado Realty Trust, where Mr. Weiss is executive vice president—director of leasing, acquired Mendik in 1997. At the time, Mr. Weiss was working in property management and attending Pace University at night to achieve an M.B.A. in finance. “I was lucky enough to be promoted to leasing the next year,” he said.  Read More

Lease Beat

AMC Networks Expands to 330K SF at Vornado Property

11 Penn Plaza

AMC Networks and Vornado Realty Trust have signed a deal so large that even Don Draper would be impressed.

The cable television and movie programmer behind shows like “Mad Men” and “Breaking Bad” and seven TV channels has agreed to a renewal and expansion lease for 330,000 square feet at 11 Penn PlazaCrain’s New York Business reported last week. The deal will grow AMC’s footprint by 40,000 square feet at the 1.1-million-square-foot building on the east side of Seventh Avenue between West 31st and 32nd Streets. Read More

Lease Beat

Financial Data Firm Consolidates at 90 Park [Updated]

90 Park Avenue

FactSet Research Systems, which provides analytics and content to the financial industry, has consolidated its space and renewed its lease at 90 Park Avenue between 39th and 40th Streets.

The financial data firm will now have 102,000 square feet spanning the entire 7th, 10th and 11th floors of the 1 million-square-foot tower, according to Crain’s, rather than be spread throughout the building. Read More

Lease Beat

HSBC Grows by 75,000-SF at 330 Madison


HSBC expanded by 75,000 square feet at 330 Madison Avenue in a deal that gives the British bank two additional floors–the 12th and lucky 13th–at the Grand Central-area office tower.

The tenant already occupies the full fifth floor. This growth spurt will allow HSBC to relocate some divisions from 452 Fifth Avenue to Vornado‘s 742,000-square-foot property. Read More

Lease Beat

State Street Consolidates at 1290 Avenue of the Americas


State Street Bank has signed a 10-year lease for 105,951 square feet at Vornado Realty Trust’s 1290 Avenue of the Americas, a source familiar with negotiations confirmed with The Commercial Observer.

State Street will take space formerly occupied by Microsoft, which opted to relocate to 11 Times Square, as The Commercial Observer reported late last year. The tech giant’s 230,000-square-foot lease was the third largest deal of 2012. Read More

Lease Beat

Akermann Senterfitt Takes 48,000 Sq. Ft. at 666 Fifth Avenue

666 Fifth Avenue (photo courtesy of Property Shark)

Akerman Senterfitt, a transactions and trial law firm based in Florida, has signed a 48,000-square-foot lease for two floors at 666 Fifth Avenue, the Kushner Companies-owned office tower that recently received a fresh infusion of capital from Vornado Realty Trust. 

The law firm will be taking the 19th and 20th floors in the building. Orrick Herrington & Sutcliffe, another law firm, formerly occupied those two floors, as was first reported by Lois Weiss of The New York Post. The asking rent was in the low $80s-a-square foot, according to sources.

The lease is for 13 years.

Frederick Marek of The Vortex Group represented Akerman Senterfitt in the deal.  Tom Costanzo, Glen Weiss, and Jared Solomon, all of Vornado, represented the firm in-house. Phone calls to Vornado were not returned Thursday.  Read More

Lease Beat

Levine Plotkin & Menin Heads to Vornado

888 seventh avenue

Levine Plotkin & Menin LLP, an entertainment law firm, is jumping from one Vornado-owned building to another after it inked a 10-year lease at 888 Seventh Avenue.

The firm, which has leased space at 1740 Broadway since 1994, is set to take 7,600 square feet of space on the 10th floor of 888 Seventh Avenue. Read More

Sustainability Today

Transparently Green: Landlords, Tenants, Gear Up for Local Law 84


In the spring, the Mayor’s Office of Long-Term Planning and Sustainability will release data for the first time revealing energy consumption in office buildings in the city.

By making such figures available to the public, Mr. Bloomberg hopes to essentially do to building owners what he has done with national food chains: incentivize them—or shame them, depending on your perspective—into significantly reducing their energy consumption.

“A customer will go into a restaurant now and they’ll say to themselves, ‘maybe I won’t have that doughnut that has 500 calories’,” said Constantine Kontokosta, a professor at New York University and director of its Center for The Sustainable Built Environment, a working group that is assisting the city with its analysis and release of the electrical consumption data.

“On the producer side, you have companies like Starbucks who are also responding to the disclosure, rearranging their offerings so they no longer have 1,000 calorie cupcakes but healthier fare.” Read More

Lease Beat

Guggenheim Partners Seals Deal at 330 Madison Avenue

330 Madison Avenue

Guggenheim Partners, an investment firm that grew from administering the vast private wealth of the Guggenheim family in the early 1900s to a multifaceted financial firm, has signed a large lease at 330 Madison Avenue for its New York headquarters, sources revealed.

The deal comes one month after The Commercial Observer first reported that Guggenheim was looking to take space at the building in November. Read More

Lease Beat

EXCLUSIVE: Victoria's Secret Owner Adds 100K

1740 Broadway.

Limited Brands Inc., an apparel company that owns several major retailers including Victoria’s Secret and Bath and Body Works, has reached a deal to add nearly 100,000 square feet of space at 1740 Broadway, a building owned by Vornado.

Limited Brands will take floors 14 through 17 in the expansion and will now occupy about 500,000 square feet in the roughly 700,000 square foot property. The company, formerly known as The Limited, is represented by a team from the real estate services firm CBRE, led by CBRE’s New York area Chief Executive Mary Ann Tighe and executives Eric Deutsch and Ken Meyerson. Read More