Lease Beat

CRE Tech Service Provider Leases Space on West 36th Street

142 West 36th Street

View the Space is taking more than 7,000 square feet in Herald Square Properties and Davis Companies‘ 142 West 36th Street, Commercial Observer has learned.

The commercial real estate software company, which claims the largest library of commercial real estate videos in the world, is taking the entire 12th floor in the 116,000-square-foot building, marking the first tenant to move into the new Mufson Partnership-designed pre-built offices between Broadway and Seventh Avenue. Read More

Lease Beat

Media Company Takes Full Floor at Macklowe’s 386 Park Avenue South

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Advertising and marketing communications agency Lowe Campbell Ewald has signed a 10-year, 13,121-square-foot lease at William Macklowe Company’s 386 Park Avenue South, Commercial Observer has learned.

The subsidiary of Interpublic Group of Companies takes the entire 15th floor in the renovated 20-story Midtown South office building, located on the corner of Park Avenue South and Read More

Lease Beat

Apparel Supplier Inks Deal at 1370 Broadway

1370 Broadway

Intradeco Apparel has signed a lease for the entire 16,787-square-foot seventh floor at Normandy Real Estate Partners1370 Broadway, The Commercial Observer has learned.

The apparel supplier will pay rent starting in the mid-$40s per square foot, according to data from CompStak. Asking rents in the building are approximately $50 per square foot, according to listings on TheSquareFoot. Read More

Lease Beat

Law Firm Expands at W&H Properties’ 1350 Broadway

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Tarter Krinsky & Drogin LLP has signed an expansion at W&H Properties1350 Broadway, the landlord announced last week. The law firm, which moved to the building in 2007, increased its presence by 35 percent and will now occupy a total of 37,609 square feet across three floors.

“Tarter Krinsky & Drogin has been a tenant at 1350 Broadway during a period in which we have transformed the property in a $53-million, top-to-bottom upgrade program,” said Anthony Malkin, president of Malkin Holdings, which oversees the W&H portfolio, in a prepared statement. “This expansion demonstrates that we’ve delivered on our promises and ensured the highest levels of tenant satisfaction.” Read More

Lease Beat

Regus Continues New York Expansion at 104 West 40th Street

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Office space provider Regus has signed a long-term, 30,000-square-foot lease on the fourth and fifth floors at 104 West 40th Street, continuing the company’s aggressive expansion in New York.

“We’re really looking to expand on the west side of Manhattan, filling in the dots of where we aren’t,” Grant Greenberg, spokesman, told The Commercial Observer, adding that an exact opening date has not been nailed down but late 2013 or early 2014 is likely. Read More

Lease Beat

Leasing Activity Remains Steady at Boston Properties’ 510 Madison

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Financial services tenants have been flocking to Boston Properties510 Madison Avenue and three recent deals indicate interest remains high, despite triple-digit rents. The Canada Pension Plan Investment Board, 400 Capital Management and Prosiris Capital Management have all signed 10-year, 11,500-square-foot full floor deals in the building, a source familiar with the transactions confirmed with The Commercial Observer. Read More

Lease Beat

Profero Signs for 13,121 SF at Billy Macklowe’s Tech Magnet 386 Park Avenue South

386 Park Avenue South

The communications agency Profero signed a long-term, 13,121-square-foot lease at 386 Park Avenue South.

Sam King and Gerry Miovski of CBRE represented the tenant, which specializes in digital advertising and marketing. Paul Amrich, Neil King, Ross Zimbalist and Kerry Powers, also of CBRE, represented the landlord, a partnership between William Macklowe Company and Principal Real Estate Investors, LLC. Asking rent was between $50 and $60 a foot. Read More

Lease Beat

Mobile Advertising Company to Relocate to Macklowe’s 386 Park Avenue South

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Mobile advertising company MoPub will relocate to a 13,121-square-foot prebuild on the 12th floor of Billy Macklowe’s 386 Park Avenue South in June, the New York Post reported earlier this week.

The mobile company, currently based at 71 Gansevoort Street in the Meatpacking District, offers an advertising serving platform for mobile application publishers, allowing clients to manage advertising on both iPhone and Android devices. Headquartered in San Francisco, MoPub was founded by former Google and AdMob employees and is backed by venture capital groups Accel Partners, Harrison Metal Capital and Jafco Ventures.

Read More

Sales Beat

Princeton International Properties Pays More Than $100M for 104 West 40th Street

104 West 40th Street

Princeton International Properties has purchased 104 West 40th Street from Savanna for just over $100 million, The Commercial Observer has learned.

The 210,000-square-foot Midtown Manhattan office building is located steps from Bryant Park on 40th street and Broadway.

Savanna purchased the 20-story glass and steel landmark in 2010, refurbishing it with renovated elevators, building systems, an improved lobby – and a strategy of re-leasing the vacant space at market rents. Read More

Lease Beat

Collection 18 Takes 32K S/F at 1370 Broadway

1370 Broadway

Fashion tenant Collection 18 has signed a lease for the top two floors at the office building 1370 Broadway, 16 and 17, which total about 32,000 square feet.

Asking rents for the space were in the $50s per square foot.

The deal came about after some nifty shuffling by the building’s leasing agents, a CBRE team led by Paul Amrich, Neil King and Mike Movshovich. Read More

Lease Beat

Shunning MTS, M5 Networks Comes To 1385 Broadway

1385 Broadway

Joining a growing list of tenants disuaded from Midtown South because of the neighborhood’s rising rental rates and scare availability, M5 Networks has signed a lease to relocate to 1385 Broadway.

The company will take 23,000 square feet, the 435,000-square-foot building’s entire seventh floor, where asking rents are in the $40s per square foot. M5 will be moving from 245 West 17th Street in Chelsea, where it had about 14,000 square feet. Read More

The Plan

Savanna Strips for Vox Media, Verge, In Agressive W. 40th St. Expansion Gambit

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Sometimes, even in a city like New York, less can prove to be more. Such was the case when growing tech firm Vox Media went looking for its first permanent home in Manhattan. In the end, in a deal brokered by CBRE’s Neil King and Paul Amrich, D.C.-based Vox settled on nearly 17,000 square feet of space in Savanna’s 20-story, landmarked building at 104 West 40th Street—the entire ninth floor and part of the eighth. The firm was initially interested in Midtown South, but was drawn to Savanna’s space by its stripped out, loft-like interiors and proximity to Bryant Park, though other touches, such as a modernist mural in the lobby by artist Sarah Morris, didn’t hurt. After the jump, Cooper Kramer, a vice president at Savanna, talks to The Commercial Observer about Vox Media’s plans for the minimalist, tech-friendly space. Read More

Lease Beat

2 Grand Central Tower Fills 42nd Floor

Courtesy of The Egge Adventure

ED&F Man have signed a ten-year lease for an office in Rockwood Capital’s 2 Grand Central Tower.

The commodities, logistics, and risk management services firm will grab 22,014 square feet spanning the entire 42nd floor and some of the 41st floor. The firm is in the process of moving in with small work being done Read More

Lease Beat

104 West 40th Street: Midtown South Comes to Midtown

104 West 40th Street

If an office building can look and feel like it’s in Midtown South even if it isn’t, can’t it benefit from the leasing boom that has overtaken that market?

That was the premise underscoring 104 West 40th Street’s recent deal with the company Vox Media.

The building’s leasing agents, Paul Amrich and Neil King, who are both executives at CBRE, recommended that the property’s landlord, Savanna, skip the carpeting and the drop ceilings that are typical to Midtown office installations. The striped down aesthetic they created instead gave the property a loft-like ambiance akin to Midtown South and convinced Vox to take the building’s entire ninth floor and part of eight in a deal totaling 16,884 square feet. Read More