Sales Beat

Blackstone Pays $165.7M for West 41st Street Office Building

114 West 41st Street.

Leon Charney‘s L.H. Charney & Associates has sold 114 West 41st Street in the Times Square area to Blackstone Real Estate Advisors for $165.7 million, property records indicate.

The 22-floor office building between West 40th and West 41st Streets and Broadway and Avenue of the Americas two years ago underwent a $7 million capital improvement program featuring a new retail façade and lobby, as Commercial Observer previously reported. Read More

Lease Beat

By Design Signs 21,711 SF at Leon Charney’s 1411 Broadway

1441 Broadway

By Design has signed a 21,711-square-foot lease at 1441 Broadway, a building owned by real estate tycoon Leon Charney.

The company takes a full floor in the building, in a space formerly occupied by Fifth and Pacific Companies (formerly Liz Claiborne Inc.), which will double as an office space and showroom.

“We’re glad to have them and we’ve almost backfilled all the space in the building – they’re a welcome addition,” said Bruce Block, Mr. Charney’s right hand man at L.H. Charney & Associates, the building ownership.  “They’re in the apparel and fashion industry and our building is predominately fashion.  They will be able to use some of the existing build-out space on the floor.” Read More