The collaborative workspace provider WeWork signed a 16-year, 120,537-square-foot lease at 222 Broadway, The Commercial Observer has learned.
David Berkey and Andrew Wiener represented the building owner L&L Holding Company in-house. Mark Lapidus of WeWork and Sean Black of Jones Lang LaSalle represented the tenant. Asking rents at 222 Broadway are in the mid-$50 per square foot range.
WeWork typically provides communal office space to tech and new media companies, making the lease another sign of Lower Manhattan’s growing appeal to that type of firm. Mr. Berkey was quick to point out that tech and media tenants are “nothing new” in the neighborhood.
“I’ve been telling whoever will listen that for two years now we’ve seen nothing but this kind of tenant here and at [L&L's] 195 Broadway,” Mr. Berkey said. “We haven’t seen financial services or law firm tenants. It’s not a new phenomenon by any stretch.”
When terrorists detonated a monster bomb in the underground parking garage at the World Trade Center’s North Tower on February 26, 1993, it shook the city with seismic strength.
Six people died and 1,042 were injured in the bombing. But it came before the widespread understanding, blunt as it was, that terrorists wanted to kill Read More
IMG Worldwide has leased nearly 30,000 square feet at 200 Fifth Avenue, roughly half of the building’s seventh floor, for 15-years.
IMG is a media and marketing company involved primarily in television production and talent management. The company will be relocating to the space from the General Motors Building in Midtown.
Blink Fitness, the new affordable gym chain launched by Equinox that aims to be friendly on one’s waistline and wallet, has signed a lease to take 16,000 square feet at 600 Third Avenue, it was announced today.
Securities fraud law firm Pomerantz Haudek Grossman & Gross will be doing its investigating from its new Grand Central headquarters.
The firm will be moving from its old offices at 100 Park Avenue to take two floors of contiguous space at 600 Third Avenue, an L&L Holding Company-owned 42-story office tower, The Commercial Observer has learned.
Global marketing and communications company Omnicom Group has taken an additional floor at 195 Broadway, growing the firm’s footprint to 260,000 square feet inside L&L Holding Company co-owned building, The Commercial Observer has learned.
The advertising firm will be taking a full floor, at approximately 39,347 square feet, at 195 Broadway.
The owners of 28-46 West 23rd Street are exploring an expansion of the building amid a hot streak in the Midtown South office district that has driven down vacancy and pushed rents up, The Commercial Observer has learned.
Speeches were casually ignored, drinks were spilled and bonds were formed at last Thursday’s 116th annual Real Estate Board of New York Gala, which this year drew an estimated 2,000 brokers, owners, advertising buyers and real estate reporters to the New York Hilton for an evening of conviviality, honorifics and hushed deal making. Among the fray was Commercial Observer staff writer Daniel Geiger, who during the course of the evening saw his stenopad tossed by an irate real estate broker and who unabashedly accosted Studley’s Woody Heller in the hotel’s bathroom, all for the sake of the story. Below, a timeline of gala comings and goings, from the innocuous gossip down to the downright obnoxious.
Big Real Estate
Editor’s Note: This article reflects the following correction. L&L Holding is not, in fact, the owner of the office tower at 635 Madison, but owns the ground fee under the building. Therefore, the news that the building is about to sell at 56 percent off was also incorrect. The Observer regrets the error.
Family firm Read More
It’s finally official. Tiffany & Co., the legendary jeweler whose Fifth Avenue, multi-tiered wedding cake of a flagship store regularly attracts hordes of bauble-seeking tourists and New Yorkers alike, will relocate its corporate headquarters from midtown Manhattan to the Flatiron district, according to a just-issued press release. The Observer broke the news about Tiffany’s imminent Read More
Madison Square Park may soon play host to an enormous cluster of jewelry professionals.
Tiffany & Co. has a lease out—industry jargon for being this close to a signed contract—for more than 200,000 square feet at the beautifully restored Toy Building at 200 Fifth Avenue, the former merchandise mart for the “children’s entertainment” industry.
If Read More