Lease Beat

DataVision Inks Flagship Retail Lease at Two Trees’ 50 West 23rd Street

Retail rendering for 50 West 23rd Street. (Two Trees)

Computer and consumer electronics retailer DataVision has signed a 10-year, 5,523-square-foot flagship retail lease at Two Trees Management’s 50 West 23rd Street, the landlord announced today.

The tenant will relocate to the property, also known as the Jewelcor Building, from Fifth Avenue and 39th Street and is expected to offer same day delivery in New York City for 40,000 items. Read More

Postings

Minute by Minute at the REBNY Deal of the Year Awards

Richard B. Hodos

The Real Estate Board of New York doled out prizes for the Most Ingenious and Most Significant Retail Deals of 2013 in a ceremony at Club 101 at 101 Park Avenue last Tuesday night, and Commercial Observer came out to sample the open bar, scope the 18 nominees and gather snippets from the 250 brokers and insiders who showed up for the event. Read More

Power Broker

Lee & Associates’ Harlem Shakers

(Photo: Aaron Adler)

Mr. Goldfarb grew up on Rivington Street on the Lower East Side back when people sat on their stoops for entertainment, when you knew everyone in the neighborhood by name, and before the cramped, railroad-style tenements stretching from South to 15th Streets were razed and turned into projects. Read More

Health care

Modern Medicine: How Fundamental Health Care Changes are Reshaping the Medical Real Estate Game

Doctors at Memorial Sloan-Kettering. (Credit: abcnews)

Several months ago, I unearthed a clock radio from an old box of belongings and set it up in my bathroom so I could rock out to some tunes as I showered before work. 

At times, I was slightly amused by the segues of deejay banter, but the in-your-face commercials slinging everything from car insurance to pet food were less charming. 

An ad about a cancer survivor who had achieved her dream of having children after receiving the best, most convenient care at a particular outpatient cancer treatment facility at first struck a chord, but by the fifth or sixth iteration, it admittedly grew tiresome, and I retired that particular station altogether. Read More

Lease Beat

Motorcycle Dealer Signs Direct Lease in Hudson Square

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Mototainment, LLC has signed a 15-year, 8,300-square-foot lease at Trinity Real Estate’s 155 Avenue of the Americas.

The tenant, also known as Ducati Triumph NYC, is  an authorized dealer and service provider of Ducati, Triumph and Mission motorcycles. The dealer has signed a direct lease with the landlord after previously subleasing ground floor retail space at the Hudson Square property. 

Read More

Lease Beat

Brause Realty Welcomes Two New Tenants to 254 West 31st Street

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In a sign that the landlord’s capital improvement plan is paying dividends, Brause Realty has signed two new tenants at its 254 West 31st Street property.

In the larger of the two deals, Concepts in Staffing, an IT consulting and executive search firm, has leased 5,240 square feet on the sixth floor of the building. The company is currently located at 9 East 37th Street.

On the 12th floor, Universum has signed a 4,110-square-foot lease. The employer branding services firm currently operates from nearby 129 West 29th Street. Read More

Lease Beat

Three New Tenants Sign on at 20 West 37th Street

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Landlord Neuss Real Estate has signed three new tenants to long-term deals at 20 West 37th Street, The Commercial Observer has learned. Asking rent for the building—now 100 percent leased–is $38 per square foot.

“This location is really picking up a lot of steam because Midtown South has become very pricey,” said Paul Walker of CBRE, who represented ownership in the transactions. “This neighborhood is great for transportation and the product is very similar to that of Midtown South.” Read More

Lease Beat

Sprinkles Cupcakes Dips into Ice Cream Biz

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Sprinkles Cupcakes has signed a 7,000-square-foot lease extension and expansion at 780-782 Lexington Avenue, giving the shop an additional 1,000 square feet for the launch of an ice cream undertaking next to its existing Manhattan cupcake operation.

An “ATM machine” outside the shop will allow customers to order cupcakes 24 hours a day, according to Read More

Lease Beat

Epiq Bankruptcy Leads Trio of New Leases at 757 Third Avenue

757 Third Avenue

Epiq Bankruptcy Solutions, a case management and consulting firm specializing in Chapter 11 cases, has signed a 28,036-square-foot lease on the third and seventh floors of 757 Third Avenue, the largest of three recently announced leases at the RFR Realty property. Asking rents in the building range from the low $50s to low $60s per square foot.

Additionally, real estate developer Omni Development and Astoria Federal Savings and Loan Association have signed lease for 5,700 square feet and 5,284 square feet, respectively.

“The RFR team works tirelessly to provide an unsurpassed office environment for our tenants – from the upscale building amenities and thoughtfully crafted interiors to the assiduous attention to architectural detail,” said Aby Rosen, co-Founder and principal of RFR, in a statement. “The recent leases at 757 Third Avenue are further testament to the quality of our portfolio and attention to tenant services.” Read More

ICSC 2013

Minute By Minute: The First Day and a Half at the International Council of Shopping Centers RECon Expo

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On Sunday night at the MGM Grand Garden Arena in Las Vegas, Taylor Swift and Justin Bieber made the fans squeal and the paparazzi snap. But just off the strip, at the Las Vegas Convention Center, the real action got underway with the start of RECon. Below, The Commercial Observer’s
reconnaissance work at The Global Real Estate Convention, where 35,000 registered attendees are helping to shape the future of retail real estate. Read More

Lease Beat

345 Adams Street 100 Percent Occupied After Orange Leaf’s Cool 1,000-Square-Foot Deal

345 Adams Street

Orange Leaf signed a long-term, 1,000-square-foot lease at 345 Adams Street, giving the Downtown Brooklyn retail condo 100 percent occupancy.

Ariel Schuster and Brian Segall of RKF represented the landlord, Muss Development LLC. Henry Goldfarb, Stanley Lindenfeld and Adam Frisch of Lee & Associates represented the tenant.

This will be Orange Leaf’s first Brooklyn location. The fro-yo chain has six stores throughout Manhattan and Staten Island. The retailer will count other fast food outlets including Panera Bread and Potbelly as neighbors. The Texas barbecue joint Hill Country, which originated in Murray Hill, announced an 11,000-square-foot lease at 345 Adams earlier this month. Read More