Lease Beat

IDEO Relocating in Soho

408Bway2

Global design consultancy IDEO is relocating to 408 Broadway early next month after signing a 12-year, 28,500-square-foot lease for the building’s fourth and fifth floors. Asking rents were in the high-$40s per square foot.

“This deal helps extend Soho’s creative hub south past Canal Street, where transportation and amenities are still great but rents are more palatable,” said Justin DiMare of Newmark Grubb Knight Frank, who represented the landlord United American Land in the lease and purchase of the vacant building in 2011. “The building is now fully leased long term.” Read More

Bruno Magli Lands in Manhattan

Italian shoe designer, Bruno Magli, recently signed a 10-year, 5,174-square-foot lease at 4 West 58th Street. Building owner, Solow Management, initially asked for $80 per square foot, said Jones Lang LaSalle vice president, Michael Higgins, who represented the tenant. He would not disclose the final negotiated price. The landlord is currently asking for $85 per Read More