Lease Beat

Bank Leumi Signs 58,548-SF Lease at 350 Madison

350 Madison Avenue

Bank Leumi USA, the largest subsidiary of Israeli bank The Leumi Group, signed a long-term lease earlier this month for 58,548 square feet at 350 Madison Avenue as The New York Post reported. Asking rents in the building range from $60 per square foot  in the base to $85 per square foot  in the penthouse.

Occupying the entirety of floors three, four and six, the Israel-based financial services firm will be the building’s largest tenant. Read More

Lease Beat

Photo App Startup Signs 100 Wall Street Lease

100 Wall Street.

Pixable, the developer of a mobile photo application of the same name, has signed a five-year lease for a 6,836-square-foot portion of the 18th floor of Savanna’s 100 Wall Street, Commercial Observer has learned.

The company’s product aggregates photos from various social networks and sorts them into feeds. Founded in 2009, Pixable was acquired by SingTel in 2012 for $26.5 million, according to CrunchBase, and is currently headquartered at 137 Varick Street. Read More

Lease Beat

Marine Insurer Relocating on Third Avenue

757 Third Avenue.

The North American office of Oslo-based marine insurer Skuld will relocate to 757 Third Avenue from 805 Third Avenue, Commercial Observer has learned. The company has signed a 10-year lease for the entire 6,961-square-foot 25th floor of the RFR Realty-owned building.

The deal continues a brisk leasing pace at 757 Third Avenue, where Berkley Insurance Company, Laura Pomerantz Real Estate and Grant Thornton have all recently signed deals. Read More

Lease Beat

Another Tech Support Firm Signs at 100 Wall Street


Apex Systems, Inc. has signed a new seven-year, 4,318-square-foot lease at Savanna’s 100 Wall Street, Commercial Observer has learned.

The company, a leading provider of information tech staffing, follows a string of tech/creative tenants that have filled roughly 50,000 square feet in the Downtown building over the last 15 months.

Savanna’s Downtown portfolio, which consists Read More

Lease Beat

RK Bridal Moving to the Far West Side

619 West 54th Street.

RK Bridal has signed a 10-year, 32,512-square-foot lease on the fifth floor of Taconic Investment Partners619 West 54th Street, Commercial Observer has learned.

The wedding gown retailer will pay rent starting in the mid-$30s per square foot after approximately six months of free rent, according to data from CompStak. The tenant is expected to relocate from its current location at 318 West 39th Street in the Garment District during the second quarter. Read More

Commercial Breaks

Savanna Closes 580K SF of Leasing in 2013

31 Penn Plaza

Real estate private equity firm Savanna closed over 580,000 square feet of leasing in its portfolio across 59 deals in 2013, The Commercial Observer has learned.

“The significant number of lease renewals, expansions and new leases is evidence of the brokerage and corporate communities’ confidence in Savanna properties,” said Nicholas Bienstock, managing partner at Savanna, in a prepared statement. “We thank the brokerage community for their continued support in these transactions and look forward to working together again in 2014.” Read More

Lease Beat

Calvin Klein Renews at 205 West 39th


PVH Corp.-owned Calvin Klein has renewed its 195,000 square feet at 205 West 39th Street, according to a report from the New York Post.

The company, which occupies the 2nd through 12th floors of the 17-story building, as well as part of the ground and basement floors, expanded by 30,000 square feet over the course of Read More

Lease Beat

Limelight Networks Signs Lease at Savanna’s 100 Wall Street

100 Wall Street.

Limelight Networks has signed an eight-year, 4,071-square-foot lease for a portion of the fifth floor at Savanna’s 100 Wall Street, The Commercial Observer has learned.

The new lease follows on the heels of an announcement in October that El Al Airlines, the national airline of Israel, had signed a 10-year, 14,918-square-foot lease on the fourth floor at Lower Manhattan property.

Read More

Lease Beat

Luxoft Relocation Downtown Illustrates Broader Tech Shift

100 Wall Street

Luxoft USA, Inc. has signed a roughly 4,700-square-foot, 10-year lease for a portion of the fifth floor at Savanna’s 100 Wall Street.

The software development and IT solutions provider relocates to the building from its former Penn Plaza location, representative of a broader shift among tech tenants moving Downtown.

“We definitely are seeing an influx of Read More

Lease Beat

Magazine Trade Group Relocating to 757 Third Avenue

757 Third Avenue.

MPA-The Association of Magazine Media has signed a 10-year, 12,199-square-foot lease at RFR Realty’s 757 Third Avenue, The Commercial Observer has learned.

The tenant will pay rent starting in the mid-$50s per square foot, according to data from CompStak. MPA, currently headquartered at 810 Seventh Avenue, will relocate in February when its current lease expires, according to a spokesperson who confirmed the deal. Read More

Lease Beat

Rialto Capital Management Inks Deal at 600 Madison Avenue


A division of Lennar Corporation has signed a 10-year, 17,852-square-foot lease at 600 Madison Avenue in the Plaza District.

Rialto Capital Management, Lennar’s real estate investment arm, focused on distressed and value-add properties, took the entire 12th floor at Ruben Companies’ 26-story, 327,960-square-foot tower, The Real Deal reported today.

Following a six-month grace period Read More

Lease Beat

Integreon Consolidates at 1450 Broadway

1450 broadway

Integreon Managed Solutions will consolidate its New York offices at 1450 Broadway after the company signed a 7-year lease for a 7,532-square-foot portion of the building’s 11th floor. Asking rent for the space was $55 per square foot.

The company, which provides legal, research and business support solutions, will relocate and expand within 1450 Broadway and move from 622 Third Avenue, where it has maintained an additional New York office. Read More

Lease Beat

Sequence Sublets SecondMarket Space at 636 Avenue of the Americas


Sequence has signed a sublease for a 4,577-square-foot portion of the fourth floor at 636 Avenue of the Americas, smack at the center of the booming Flatiron District, The Commercial Observer has learned from CompStak.

The subtenant will pay rent in the high-$50s per square foot in the three-year five-month deal, according to CompStak’s data, and will sublet the space from SecondMarket, an online marketplace for illiquid assets. Read More