Lease Beat

Samsung Expands Lease on West 26th Street

30 West 26th Street

Samsung Information Systems of America is expanding with a contiguous lease in a Meringoff Properties building, bringing its total square footage on West 26th Street to roughly 16,000 square feet, a source with knowledge of the deal said.

The wholly owned subsidiary of Samsung Electronics took the entire 7,900-square-foot sixth floor at 30 West 26th Street, adding to its 7,900-square-foot seventh-floor lease. Read More

Assignments

Avison Young Named Exclusive Office Leasing Agent of Strand Building

Strand Bookstore

Avison Young has been named the exclusive office leasing agent of The Strand Building at 826 Broadway,The Commercial Observer has learned.

Michael Leff, Anthony LoPresti and Stephen DeFlorio of the fast-growing commercial real estate services firm will manage leasing on behalf of the building’s landlord, Bass Real Estate. The Union Square-area property is home to the legendary Strand Book Store and its 18 miles of books. Read More

Lease Beat

Law Firm Takes 30,000 SF at 99 Park Avenue

99 Park Avenue

Heidell, Pittoni, Murphy & Bach, LLP has renewed its 30,000-square-foot lease at 99 Park Avenue in Midtown’s Grand Central submarket for an additional ten years, sources tell The Commercial Observer.

The firm sealed the deal for the seventh floor — which was set to expire in 2015 — through May 2026, hoping to lock rents Read More

2013 Forecast

Cautious First Quarter, Positive Investment Sales in 2013 – Avison Young

Jon Epstein, principal with Avison Young's’s capital markets group.

Canadian real estate services company, Avison Young, is predicting a cautious first quarter, despite reporting impressive sales in New York City’s investment sales market.

Strong sales was a hallmark of 2012’s fourth quarter, influenced by economic uncertainty due to so-called ‘fiscal cliff’ negotiations between President Barack Obama and Congress. Sellers chose to place assets on Read More

The Lobby

Avison Young Hires Newmark’s Michael Leff

Avison Young's newest principal, Michael A. Leff.

Canada-based real estate firm, Avison Young, continues its poaching expedition, announcing today that Michael A. Leff has been named principal and will operate, effective immediately, from the company’s New York office. Mr. Leff, formerly a senior managing director with Newmark Grubb Knight Frank, will shoulder a number of responsibilities, including site selection, lease negotiation, strategic Read More